This week in Florida commercial real estate sees industry players considering revitalization beyond core markets. A number of deals in rising submarkets were also inked.
BY THE NUMBERS
Scattered sunshine in the near-term outlook. Statewide supply growth will contribute to a decline in annual hotel occupancy in Florida and a further moderation in the increases in ADR and RevPAR. Last year's performance was attributable to a mix of slowing economic growth, Zika and a hurricane, plus other high-profile events that suppressed travel to the state. Random events could arise again, but property owners will have opportunities to leverage a growing economy to strengthen property performance. Payrolls are still growing steadily, particularly in Orlando and Tampa, sustaining inbound business travel. (Source: Marcus & Millichap)
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.