The Real Deal Miami

Report: Florida one of most active net lease markets

Population growth, tourism, strong consumer spending are factors

December 04, 2014 11:15AM

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Retail lease

One Town Center leased office space, Boca Raton

Florida is considered a safe haven for investors and South Florida is leading the state in demand for retail space and new development projects.

Population growth, tourism, strong consumer spending and a deep investment pool have triggered the market’s strength, according to a Calkain Companies and Beshears & Associates’ 2014 Net Lease Florida Report.

Florida’s net lease retail cap rates averaged 6.52 percent in 2014, roughly 50 basis points lower than the national average, according to the report. The Florida rates were at their lowest in nine years. The report also found that banks lead all sectors with the lowest ask and sales cap rates, while pharmacies lead all sectors with the highest ask and sales cap rates. [PR.com] – Katherine Kallergis

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