Research

The multifamily market's demand is outpacing deliveries by more than two-to-one, according to Berkadia's first quarter 2018 Houston multifamily report.

The tourism and hotel sectors had to overcome significant obstacles in 2017, including, Hurricane Irma in September, a 3.2% increase in hotel room inventory and the closure of the Miami Beach Convention Center for expansion and renovation.

Even office developments located farther from the metro are showing some signs of positive change.

The top-tier office markets were off to a slow start this year, wrapping up what looks like one of the worst quarters of the last five years as fewer than 30 office deals closed across the top four markets.

Packages will fade as more tenants take advantage of favorable lease terms, the development pipeline tapers off, sublease space is absorbed, and the newest and most efficient space is leased, says JLL.

Houston's multifamily market continued its positive momentum through first quarter 2018, and investors continue to purchase, given the demand for apartment investments amid shrinking supply.

At face value Miami's condo sector looks to be the same flourishing market that it has been for the last few years. There are subtle changes, however, in deal structure, development trends and the types of buyers interested in these projects.

Perhaps the most notable achievement was in the non-trophy Class A segment when 1440 New York Ave., NW traded at $1,189 per square foot, JLL says in a new report.