South Florida Commercial Real Estate Glut is Being Absorbed

Although things seemed to head downhill more and more after the commercial real estate boom ended five years, they are finally beginning to look up. Experts on the panel at the Florida CCIM Chapter Southwest District’s 12th annual Real Estate Outlook Conference stated that the glut of inventory of commercial real estate buildings that were left behind are finally being absorbed.

One of the reasons the surplus of buildings is being absorbed is because there isn’t a great deal of new construction. Take the office sector for example, in 2011 there was only 74,000 square feet of office space constructed and it was all built according to the buyers’ requests. And although there are buildings available in various sectors the best lie in dock-high industrial spaces which have an elevated loading dock door.

If you are interested in investing in the South Florida commercial real estate market contact Morris Southeast Group at 866-930-1426.

Source: News-Press

Morris Southeast Group Signs Aviation Dept. to 5 Year Lease

Last week our firm succeeded in signing the Broward County Aviation Department to a five-year lease at Airport Commerce Park in Dania Beach, FL. Working alongside Koreena Rivers and Lois Paskow to represent the landlord, ACP Partners, LLC, we were able to garner a competitive lease rate as well as a full build-out for the 23,778-square-foot transaction.

The property, which is located at 4101 Ravenswood Road, is a single-story campus style building which will be used to house administrative offices. Given the design of the building it offers quick and easy transit from the car to inside. The new, incomparable location will also make it easier for the avaiation department’s staff to observe and manage the oversight of an upcoming runway expansion project.

If you are looking for tenant representation in South Florida don’t hesitate to give Morris Southeast Group a call at 866-930-1426 or visit morrissegroup.com.

 

Tips on Searching for the Right Commercial Space

Are you thinking about moving your business to a new commercial space? If so then you know that relocating your office can be an exciting but challenging proposition, which is why you should keep these important tips in mind when searching for the right location.

  • Is there adequate secure parking for both employees and customers? Is the building in a safe location and what type of security is provided? And don’t forget about fire protection. Make sure to inquire about sprinkler systems and fire exits.
  • Consider the surrounding businesses.  Are restaurants convenient for your employees to walk to during their lunch hour? Also, don’t discount the availability of shops such as dry cleaners, department stores and personal care services in keeping employees happy.
  • Sufficient space is important but you don’t want to waste money by over leasing. This handy chart provides realistic square footage requirements.
  • Finally, if possible don’t sign a long-term lease. Nothing is worse than discovering the space just isn’t suitable and you are locked into a 5 year contract.

Please contact Morris Southeast Group at 866-390-1426 for assistance in securing your new office space in South Florida.

Image from sacramento.olx.com