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Florida high on the list in commercial real estate values

Anyone in the Miami area who is involved in the real estate business understands the challenges involved. However, despite those difficulties, there are signs that the market continues to improve, which means there will most likely be an increasing number of commercial and residential development projects and deals to be made in the coming months and years.

According to a recent report from the National Commercial real Estate Development Association, Florida is doing well in commercial real estate values. Florida’s governor, Rick Scott recently announced that according to the report, the state ranked among America’s top ten states for construction values for the development of industrial, office, warehouse and retail commercial real estate in 2012.

Florida came in at number six in 2012, which was a jump from number seven just two years earlier in 2010. Among the details found in the rankings was the fact that Florida is number six for commercial real estate after posting $1.97 billion in construction value and supporting nearly 80,000 jobs. Governor Scott noted that the improved ranking is a sign that Florida’s efforts to improve its economy, including the commercial real estate business, are working.

Despite the many reports that the commercial real estate market is suffering in Florida, there are many other reports like this one that counter those negative claims. The commercial real estate sector is still very much a viable business, which means anyone who needs assistance with any kind of real estate transaction or litigation should probably consider meeting with an experienced real estate attorney.

Source: BizPac Review, “Florida ranks among top 10 states for commercial real estate construction value,” Nov. 9, 2013.

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