Strong 1Q for Florida commercial

Florida’s commercial real estate market sustained its momentum from the
previous quarter, with an increase in activity in South Florida compared
to the north, according to a report from CB Richard Ellis. “The first
quarter sustained the positive trends of last,” said Mary Jo Eaton,
senior managing director at CBRE for Florida in a statement. Statewide
net absorption for the quarter was 254,488 square feet, with Tampa Bay
leading the way. On the industrial side, Miami saw signs of improvement,
with a 7.8 percent vacancy compared to a 10.3 percent statewide rate,
along with 14 properties trading for nearly $140 million, which
accounted for 75 percent of the industrial sales in Florida in the first
quarter. TRD