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| Andrew Ansin |
MIRAMAR, FL -- Andrew
Ansin, vice president of Sunbeam Properties, developer of the Miramar Park of
Commerce, the largest locally owned and managed business park in South Florida,
predicts the commercial real estate markets for industrial, multifamily, office
and flex space will continue to be strong in 2016.
Here are his predictions:
Industrial
The market will continue
to absorb new space coming online.
Rents will only increase
slightly, as they are restrained by pre-sold product being developed in North
Dade.
There is only a limited
supply of land remaining for industrial development in the Dade/Broward market,
so land prices will continue to escalate.
MPC will complete its last
warehouse building, bringing an end to 30 years of warehouse development,
during which it has built and leased
over 5 million square feet of space.
No other industrial
product is in the pipe line for SW Broward for 2016, historically a big player
in the industrial market.
Existing tenants will
continue to expand.
Flex/Office
Rents and activity will
continue to increase as the economy slowly chugs along.
New construction will
occur both by owners and speculative developers.
Land prices will increase,
reflecting increased demand and a limited number of sites.
MPC will build its first
speculative flex/office building in almost 10 years.
Both markets are also squeezed by the
continuing demand for apartment land and the higher prices sites will sell for
if they can be developed as apartments instead of industrial or flex/office.
For a
complete copy of the company’s news release, please contact:
Lexi Robinson
Pierson Grant Public
Relations
6301 Northwest 5th Way,
Suite 2600
Fort Lauderdale, FL 33309
Phone: (954) 776-1999,
ext. 255
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