This week in Florida commercialreal estate sees industry players considering revitalizationbeyond core markets. A number of deals in rising submarkets werealso inked.
BY THE NUMBERS
Scattered sunshine in the near-term outlook. Statewide supplygrowth will contribute to a decline in annual hoteloccupancy in Florida and a further moderation in the increases inADR and RevPAR. Last year's performance was attributable to a mixof slowing economic growth, Zika and a hurricane, plus otherhigh-profile events that suppressed travel to the state. Randomevents could arise again, but property owners will haveopportunities to leverage a growing economy to strengthen propertyperformance. Payrolls are still growing steadily, particularly inOrlando and Tampa, sustaining inbound business travel. (Source:Marcus & Millichap)
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