The brokerage firm in its first quarter 2019 market snapshot report notes that availability and vacancy are near all-time lows and rental rates continue to increase at a 3.5%-4% annual rate.
Forecasts for commercial real estate prices in 2020 and 2021 are expected to fall below the long-term average growth rate for the first time since 2011.
“Given Florida's maturity as a worldwide economic powerhouse in recent years, we have a unique opportunity to lead and chart a path to help Florida become that 'It' State—the place where dynamic and exciting innovations lead the way,” says Chris Corr, Florida Council of 100 Chair.
Personal income tax receipts for the year totaled $48.1 billion, a decline of $3.4 billion, or 6.6%, from 2017-18, primarily due to a decrease in estimated payments.
The industries with the highest growth over the year in the Orlando area in March were professional and business services with 19,100 new jobs and leisure and hospitality with 10,100 new jobs.
Atlanta saw 8.2 megawatts of net absorption in 2018. The city currently has a data center inventory of 126.8 megawatts, with 14 megawatts available that calculates out to an 11% vacancy rate.