“Throughout the state, our Advisors experienced significant growth and success with markedly strong deal velocity coming from office and industrial assets,” said Jerry Anderson CCIM, Executive Managing Director of SVN Florida.
Boynton Beach, Florida (PRWEB) February 03, 2015
With more than 685 transactions completed and more than $645 million in total volume recorded in 2014, both representing a more than 25 percent increase from the prior year, Sperry Van Ness Florida continues its impressive year-to-year growth. SVN Florida, which provides services in more locations throughout the state than any other commercial real estate firm, anticipates growth to continue during 2015 as the state’s CRE market continues to blossom.
“Throughout the state, our Advisors experienced significant growth and success with markedly strong deal velocity coming from office and industrial assets,” said Jerry Anderson CCIM, Executive Managing Director of SVN Florida. “Our data also showed that the hotel sector was healthier than it has been in the previous few years, and the Dade/Broward/Palm Beach region and Orlando metro were the strongest markets for activity in the state.”
SVN Florida also recorded more than $550 million in sales and more than $96 million in leasing, the latter representing a nearly 70 percent increase from the prior year.
“The dramatic increase in leasing transactions was a result of the job growth that took place in 2014,” explained Anderson. “It was clear that tenants decided to move forward with their business and growth strategies based on the economic stability they were experiencing and projecting.” Although the company closed a number of deals in the $10 million to $25 million range, the majority of SVN Florida's 2014 transactions were within $500 thousand to $10 million. Anderson explained that SVN Florida’s sweet spot is private investors/buyers who buy for their own use, and that the majority of these deals land in the $1 million to $5 million range.
Based on the number of deals in the pipeline and other key market indicators, SVN Florida anticipates the CRE market to continue to steadily grow. Deal velocity remains strong, interest rates are favorable and investors and buyers continue to show confidence in the market.
“In 2013, we witnessed intelligent, savvy investors becoming more active in commercial real estate—no longer sitting on the sidelines following the recession and the challenging economic climate that followed,” said Anderson. “Based on our 2014 data, activity now has moved closer to ‘business as normal,’ with 2015 setting up to be the breakout year for the industry.”
SVN Florida features Advisors in Jacksonville, St. Augustine, Tallahassee, Panama City, Pensacola, Ocala, New Smyrna Beach, Melbourne, Orlando, Lake Mary, Winter Park, Tampa, St. Petersburg, Sarasota, Bradenton, Naples, Fort Myers, Jupiter, West Palm Beach, Stuart, Fort Lauderdale, Hialeah and Miami. The SVN Florida team represents clients in office, multifamily, retail, industrial, self-storage, hospitality, marina, mobile home park and land transactions.
About Sperry Van Ness Florida Commercial Real Estate Advisors:
Sperry Van Ness International Corporation, a commercial real estate brokerage franchisor, is one of commercial real estate’s most recognized brands, based on the annual Lipsey Survey. The SVN® organization includes more than 180 locations in 200 markets. SVN Advisors provide brokerage, tenant representation, consultation, asset management, property management, leasing, accelerated marketing and auction services. The Florida team consists of more than 90 Advisors serving locations throughout the state. SVN Advisors represent clients in office, multifamily, retail, industrial, self-storage, hospitality, marina, mobile home park and land transactions. All SVN offices are independently owned and operated. For more information on SVN Florida, visit http://www.svnflorida.com. For the latest news, trends and issues related to the commercial real estate market, visit SVN Florida’s blog http://svnflorida.com/category/blog/
Zeszutko Corp.-PR on behalf of SVN Florida
Jerry Anderson, CCIM
Sperry Van Ness Florida Commercial Real Estate Advisors