The Real Deal Miami

Non-Floridian buyers may boost commercial market

October 09, 2008 10:07AM

During the past 12 months, sales of single-tenant and multi-tenant retail assets in Broward County have declined, but continued purchasing activity from out-of-state buyers may be seen as a strong endorsement of positive, long-term prospects. Sales velocity of single-tenant retail properties is down 35 percent, while multi-tenant trades are down 21 percent over the last year. Maximum leverage for retail properties is at approximately 75 percent. Lenders continue to pay particular attention to the type of retailer and the tenants’ credit quality when considering financing purchases.