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2018 Q3 MARKET REPORT EXCERPTS:
OFFICE MARKET: One trend to observe in 2019 is the re-emergence of executive suites. New projects are opening across Polk County, including one in the Dixieland neighborhood of Lakeland that charges more than $1,000 per month for a minimalist, private office with exquisite common area amenities.
INDUSTRIAL MARKET: In the third quarter of 2018, there continued to be a significant increase in the demand and purchase of industrial buildings and industrial-zoned land in the Polk County area. Owners and users of industrial land want to be located near and adjacent to the I -4 corridor. They are especially attracted to sites that have ease of access to I -4.
RETAIL MARKET: National retail sales, as well as Florida retail sales, are growing by almost 5%. Retail sales in Florida are bolstered by Florida visitors as tourism is at record levels and is expected to increase nearly 7%.
MULTI-FAMILY MARKET: Right now we are in our eighth consecutive year of positive news in the Multi-Family sector. This is evidenced by a 31% rise in apartment rents across the nation since January of 2011, as recently reported by Yardi-Matrix.
Please note that there is a considerable delay between close of quarter and when the data included in this report becomes available. This is our most recent quarterly report.