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(Nearly) all signals go for SoFla CRE
From the April issue: When real estate players talk shop about South Florida, if you look closely enough, you’ll catch a glint in their eyes, like a prospector talking about an untapped gold mine.
There’s no question that South Florida’s commercial markets have been hot tickets over the past two years: A retail assemblage on Lincoln Road fetched $370 million, institutional-level assets such as the $119 million Alhambra office complex in Coral Gables traded like flat-screen TVs on Black Friday and vacancies declined across the board.
And while global factors — from ailing stock markets to volatile foreign economies — have put a damper on growth in certain sectors, industry insiders say there are still plenty of noteworthy deals expected to close this year. [more]