Florida CRE market should improve next year

The Florida commercial market may see gains next year.

Those property management companies operating in the Florida commercial real estate market may experience significant improvement next year.

CBRE noted in a presentation at the agency's "Outlook 2013: Opportunity Amid Uncertainty"  seminar that the market should strengthen, especially for investors involved in the market. Much of this was due to strong performances during this year compared to 2011, as well as a decade earlier.

Real estate investment trusts experienced a rise in activity of more than 12 percent from last year, the Gulf Coast Business Review noted, citing CBRE's statistics. REITs were also up 8.3 percent from 10 years earlier. Property investment rose approximately 12 percent from last year, as well as more than 8 percent from a decade ago.

"Our professionals are confident in the business and investment outlook for 2013," Mary Jo Eaton Florida executive managing director for CBRE.

Government bonds experienced an increase of 8.3 percent from 2011's figures, the firm explained. The 10-year figure was also up 5.4 percent. Lease rates also rose throughout the Sunshine State.

The firm added that office development may be impacted next year by factors such as growth issues specific to certain industries, as well as government incentives.

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