The Central Florida commercial real estate market continues to stand strong across multiple CRE sectors. Despite the current pandemic, recent environmental challenges, and all else that has arisen over the past year and a half, new, major developments took place and many property refinances were sealed in several locations in Central Tampa, Central Florida, and across the state as a whole.
Meanwhile, domestic and international investors contributed to the market, and overall the financial data in Florida’s CRE remains positive.
View our commercial properties in Tampa, Florida to see what real estate assets are available for lease / sale.
Tampa and Florida Commercial Real Estate News Highlights
We’ve compiled some of the commercial real estate news highlights and attention-grabbing headlines around Tampa in order to shine a light on the current state of the Central Florida real estate market.
Tampa and Florida CRE News Highlights Q1 2024
South Florida Outperforms National CRE Performance Across Several Property Types
South Florida shows continued resilience and growth with its commercial real estate market statistics. It consistently posts below-average vacancy rates and healthy rental rate gains. These trends are expected to continue in the region. Read More
Clarion Partners Inks Deal Acquiring Tampa Industrial Real Estate Park for $56M
PCCP LLC sold Tampa Airport Logistics Center, a two-building industrial real estate park for $55.6 million. Cushman & Wakefield represented the seller in the transaction. Read More
Bounat Brokers Represent for $11.5M Industrial Real Estate Deal in Tampa
Boutique National’s Mike Farley and Bobby Sampson represented iGas in the commercial real estate transaction, while CBRE’s Kris Courier and Rian Smith represented Home Depot for the deal. Read More
The Orlando Magic’s Project for $500M is Set for a Vote
The Orlando Magic are looking to develop a sports / entertainment district next to the stadium for $500M, much like many other sports teams are doing around the country currently. Read More
Hines Finalizes Project to Build $220M Office Building in Fort Lauderdale, the First Since 2021
A joint venture headed up by Hines inked a $220 million loan to develop a mixed-use project in Fort Lauderdale that will include the only current office space under development in the area. Read More
Oak Row Inks $181M Construction Loan for Miami Office Tower
Oak Row Equities inked a $181 million loan from Bank OZK to develop a mixed-use office, multifamily, and retail real estate project in the Edgewater neighborhood of Miami. Read More
Longpoint Acquires Industrial Assets in South Florida for $262M
Real estate investment firm, Longpoint, acquired a 25-building industrial real estate portfolio in South Florida for $262 million. The portfolio of industrial assets has 12 locations in Miami and Fort Lauderdale. Read More
Tampa and Florida CRE News Highlights Q4 2023
Top Office Real Estate Transactions in Florida 2023 Listed
CommercialSearch.com put together a list of the top 5 office real estate transactions in Florida for 2023. The transaction prices ranged from $40M to over $100M. Read More
The Jobs Market Stimulates the Revival of Office Real Estate in Orlando and Tampa
Trophy office buildings in Miami and Orlando where in the right place at the right time with job growth propelling inked office real estate lease deals. Office real estate occupancy and pricing / square foot are also being driven upward. Read More
Tampa and Florida CRE News Highlights Q3 2023
Tampa and Florida’s commercial real estate updates in Q3 2023 include: Miami’s housing market ranking in the top tier nationwide, a few big CRE transactions around the state, and major refinance deals sealed in the last 3 months.
Miami in Top 5 Most Valuable Housing Markets in the Country
Miami joins Los Angeles, San Francisco, Boston, and New York as one of the top 5 most valued housing markets in the country. Property values have skyrocketed from the start of the pandemic to present day. Read More
Bounat Closes Notable Assemblage Deal in Tampa
Bounat represented Subtext Living with the acquisition of a redevelopment site located on Kennedy Blvd in South Tampa. The assemblage consists of 11 separate properties totaling approx. 1.85 acres. The redevelopment will have a new 8-story mixed use 235-unit multi-family building with 4,986 SF of retail. Read More
PGIM Sells Office Tower in Coral Gables for $90M
While office properties sales have slowed down a lot this year, Coral Gables has seen two office real estate asset transactions this past month alone. PGIM Real Estate sold a 223K-square-foot office asset for $90 million. Read More
Marcus & Millichap Seals the Deal on $7.25M Sale of Publix in Tampa
Marcus & Millichap brokered the sale of a 64K-square-foot net-leased Publix store in Tampa, FL. The asset was built in 1977, and sold for $7.25 million with a cap rate of 3.38%. Read More
Hoar Finalizes Construction of Tampa VA Mental Health Clinic for $91M
Hoar Construction finished construction of a 144K-square-foot US VA mental health clinic on the north side of Tampa. The project broke ground in late 2021, and it is set to have the first patients in January of 2024. Read More
The Delayed Mandarin Oriental in Boca Raton Landed $300M Loan
The developer of the Mandarin Oriental hotel and condo project in Boca Raton finally sealed a $302.5M loan to continue on with the major project. Read More
Concord Summit Capital Inks $42M Bride Loan in Orlando Retail Project
Concord Summit Capital arranged a $42 million refinance bridge loan from BridgeInvest to Encore Capital Management for The Promenade at Sunset Walk. A nearly-200K-square-foot retail center in Kissimmee, FL. Read More
Cushman & Wakefield Put Together $60M Sale Pembroke Pines Warehouse / Distribution Center
Bang Energy’s former distribution center in Pembroke Pines, FL was acquired for $60M. The industrial real estate property exchange includes a vacant building on a little over 23 acres of land. Read More
Miami Worldcenter Inks $26M Loan to Finalize D-East Retail Project
Miami Worldcenter secured a $26M loan from Banco Inbursa, based in Mexico, do finalize the development’s D-East retail real estate project. The project includes 54K square feet of retail space and a garage with around 1,000 parking spaces. Read More
Tampa and Florida CRE News Highlights Q2 2023
Tampa and Florida’s commercial real estate updates in Q2 2023 include: Miami’s red hot real estate market, multiple multifamily development projects, and refinancing for an Orlando apartment complex.
Miami’s Current Hot Real Estate Market Brings International Investments In Spite of Economic Headwinds
Mariano Borges, the CEO of Menessee International, is the next big wig investor to bring in international money into Miami’s red hot real estate sector. Read More
Miami-Dade Industrial Developers See a Stable Market In the Future for Industrial RE in South Florida
According to a survey taken at the Colliers South Florida Industrial Owners Forum 2023, 75% of South Florida industrial real estate developers / owners see a stable market ahead. Read More
Billion-Dollar Bahia Mar Project Finally Approved By City of Ft Lauderdale
The vote by the Fort Lauderdale City Commission ends a “nine-year saga” for developers who are seeking to build five high-rise towers on publicly owned land on the waterfront. Read More
$123M Development Begins in West Palm Beach
The project in West Palm Beach will have 13 buildings and will be called North District. Read More
Developers Splash $103M to Fund Oceanfront Miami Beach Development Project
Two South Florida commercial real estate companies put together their forces to assemble a large plot of oceanfront land in Miami Beach for a development project. Read More
Fort Lauderdale Office Tower Fetches $43M in Recent Sale
110 East office tower in Downtown Fort Lauderdale with 24 stories sold for $43 million with the new owners announcing that they already sealed the deal for 76K square feet of new leases. Read More
Celebration Pointe Multifamily Project Inks $59M Construction Financing
Walker & Dunlop arranged $58.5 million in construction financing for Gainesville’s Celebration Point Apartments. Read More
Avison Young Completes $37.5M Refinance of Apartment Complex in Orlando
Avison Young just arranged a refinancing for Azul Baldwin Park in Orlando, a 178-unit apartment community project, in Orlando. Read More
Hillpointe Workforce Housing Fund Gets $510M in Investment Fund
Hillpointe, LLC closed over half of a billion dollars in funding to help with the projected development of 25 to 30 workforce housing projects. Read More
Tampa and Florida CRE News Highlights Q1 2023
Tampa and Florida’s commercial real estate updates in Q1 2023 include: the snowball effect for commercial real estate in Florida, a hospitality real estate deal in Tampa, and other news highlights around the state.
Financial Services Outfits Contributing to the “Snowball Effect” for CRE in Florida
Experts estimate that 1,000 or so new residents are moving to The Sunshine State every day, and financial services firms are moving some or all of their operations / corporate centers from colder areas of the country to The Sunshine State. Read More
Florida’s CRE Property Owners Stand To Benefit from Proactive Property Tax Strategies
According to the Property Tax Alliance Group (PTAG), “by being proactive, property owners can decrease their largest line-item cost” with their holdings in Florida properties. Read More
Genting Nears $1B Deal for Waterfront Asset in Miami
Former Miami Herald headquarters set to break record for land sale price. Read More
BlackPearl Hospitality Acquired DoubleTree Hilton Tampa Rocky Point Waterfront for $76M
BlackPearl’s inked deal of the hotel property in Tampa, FL comes to $261,168 / hotel room, as the hospitality real estate asset has 291 rooms. Read More
Greater Ft Lauderdale Convention Center’s $1.3B Project Expected To Be Completed in Q4 2025
The massive convention center in Fort Lauderdale includes 1.2M square feet of meeting space in total. Read More
Chicago-Based Development Firm Plans 36-Story Tower in Miami, FL
Trilogy Real Estate Group from Chicago has proposed a plan for a 36-story multifamily project in Miami. They acquired the property’s lot for $30M in 2022. Read More
Orlando Overtakes Miami’s Top Spot for SFR Rent Growth
Orlando now has the top spot for single-family rental (SFR) growth, ending a 15-month streak for Miami, according to a recent report conducted by CoreLogic. Read More
Bounat’s Bobby Sampson Wins CoStar Power Broker Award
Bobby Sampson of Boutique National came out on top in the list of winners for CoStar Power Brokers in the Tampa market. The CoStar Power Brokers Quarterly Deals winners are determined by their top deals executed every quarter. Read More
Tampa and Florida Commercial Real Estate News Roundup 2022
Tampa and Florida Commercial Real Estate News Roundup 2021
Are you interested in buying, selling, or leasing commercial property in Florida? Contact the Bounat team today to start the conversation.