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South Florida

Commercial foreclosures increase in Miami-Dade and Broward counties

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Miami-Dade and Broward counties showed a surge in commercial real estate foreclosure activity in March and April, with a total of 39 foreclosure filings of $250,000 or more, according to data from Off-Market Radar. There were 24 filings alone in March, seven of which were worth $2 million or more. “While the number of foreclosures has not drastically increased in Miami-Dade and Broward County, the number and percentage of larger deals is accelerating,” said Brian McCarthy, vice president of Off-Market Radar. — Christopher Cameron