Bruce Ford: Bullish With a Little Caution Mixed In

Transwestern is having one of its best years ever in the Southeast—and Bruce Ford, president of the firm’s Southeast division, has his finger on the region’s pulse.

MIAMI— Transwestern is having one of its best years ever in the Southeast—and Bruce Ford , president of the firm’s Southeast division, has his finger on the region’s pulse . GlobeSt.com caught up with Ford to discuss the economy, the elections, and hot markets and sectors in part one of this exclusive interview. GlobeSt.com: Our economies seem to be stabilizing and almost every sector in commercial real estate has rebounded with the Southeast appearing most resilient. What are the drivers fueling the market and are you bullish for the remainder of the year? Ford: I am bullish, with a little caution thrown in there. The economy is benefitting both from pent-up post-recessionary demand and from real, organic growth in many sectors. Job growth is healthy, particularly in the sectors that drive office and industrial expansions. And trade and monetary policy are encouraging investment in US goods, services, and properties. The caution comes from two things: There are headwinds in the international economy, particularly with regard to China, and we have to watch those throughout the year recognizing that the world is increasingly interconnected. But hopefully we can withstand those here at home. The second thing is the election. Wherever you stand on the issues, election years always bring some level of uncertainty that can influence hiring and investment. Steady and clear signals from the Federal Reserve can help to offset some of that uncertainty. GlobeSt.com: The Florida economy has historically outperformed the nation unless the real estate market falls victim to crisis, and real estate recessions typically skip a cycle.  Are there geographic areas or sectors you feel will benefit most? Ford: Florida is very important to Transwestern, and we are growing our presence in all the major Florida markets. In terms of geography, Miami will always be a significant market, as is all of South Florida. Orlando and Tampa will also continue to see strong growth, each for their own unique reasons tied to geography and their dominant industries. As to sectors, Florida can expect to see continued growth in logistics, trade, and shipping. PortMiami has completed more than $1 billion in capital improvements, and saw an increase in trade in 2015 while other large ports held steady or declined a little. Professional services and healthcare are also on the rise and expected to stay on that trajectory for the next several years, so properties that cater to those sectors will see increasing demand from users and investors. Of course, retail will always be important in Florida as well. Central Florida CRE remains strong with Multifamily, Retail and Industrial leading the way. Are You In The Know? How can you profit? Join us at RealShare Central Florida on September 7th for impactful information from the leaders in Central Florida CRE.Learn more.