Wednesday, May 29, 2013

Marcus & Millichap Reports Foreign and Exchange Investors Drive Property Sales in Broward County, FL



                   Flagler Village rendering, Fort Lauderdale, FL


FORT LAUDERDALE, FL -- An influx of residents and increased spending will play a large factor in improving the county’s retail market this year, according to Marcus & Millichap’s second-quarter report.

Retail sales jumped in the past 12 months, attracting retailers, especially in high-traffic locations, such as the Federal Highway Corridor where Flagler Village is under way.

 The mixed-use redevelopment will include retail space among more than 700 apartment units in an urban village setting. Another 390 residential units are under way just blocks away. Residential construction has retailers preparing for the new households.

The Plaza at Coral Springs, FL
Fresh Market, for example, recently opened across the street from Flagler Village. Residential construction is also surging in areas such as Coconut Creek, where more than 600 housing units are under way.

 In addition, a casino-hotel has been proposed at the Seminole Casino Coconut Creek, which would boost jobs, traffic and tourism. In nearby Coral Springs, the redevelopment of the Plaza at Coral Springs II will add BJ’s Wholesale Club and Dick’s Sporting Goods to its tenant roster. Escalating space demand this year will allow operators to implement the largest rent gains since the recession began.

For a complete copy of the company’s news release, please contact:

John Chang
Vice President, Research Services
(602) 687-6700

Fort Lauderdale Office:
Gregory Matus
Vice President, Regional Manager

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