Florida has a history of boom-bust real estate markets but excellent market fundamentals coupled with realistic underwriting and financing analysis will keep the market in equilibrium, according to C&W's Calum Weaver.
Some $100 billion was poured into the asset class during the past decade, which has been matched by a technical shift and major influence by cloud platform providers–Amazon, Google and Microsoft.
The number of large-scale retail projects are few and far between, however supply is plentiful for value-added projects, strip center and single-tenant net lease developments with growing tenants.
In the firm's fourth quarter 2019 report on the Southern New Jersey and Southeastern Pennsylvania markets, WCRE states that although leasing activity was down overall, vacancy rates remained low and gross leasing absorption was positive.
Plano added the most office space at slightly more than 10.5 million square feet, a 40% increase, while Irving came in second, adding 4.5 million square feet of class-A and B office space across 21 properties.
In its fourth quarter 2019 industrial market report for New Jersey, Transwestern reports that the big box bubble is showing no sign of bursting as new construction continues to lease up quickly.