MIAMI—South Florida's research parks have been making some noise lately. But can the market establish itself as a research and development cluster that competes with the likes of Boston, New York and North Carolina's Research Triangle? Some are beginning to think so.

Miami has long billed itself as the Gateway to Latin America. Now, the city—and, to a lesser extent, all of Florida—appears to be the gateway for international real estate developers and investors looking for a safe place for their dollars (or euros or ringgits) to land.

The Sunshine State's commercial real estate business has long had an international feel, and with a new wave of development on the horizon, the future looks bright. However, Florida's success in this arena wouldn't be possible without the efforts of individuals who have helped shape—and many of whom continue to influence—the market. Here's a look at some of the people who have become household names in the regional industry.

What a difference a year makes. Commercial real estate markets in the Southeast are making steady, and sometimes notable, progress toward recovery—across all sectors. Although new development is still spotty in most markets, major metros in the Southeast are seeing financeable development plans and, in some cases, groundbreakings.

Once upon a time, developers were racing to build office towers. Now, brokers are working over time to maximize tenant occupancy for profit-minded owners trying to avoid the distress that has plagued much of the commercial real estate industry.

HIALEAH, FL—Industrial has been a hot story in South Florida—and in pockets of the Southeast—through early 2012. In early January, Flagler Real Estate Services inked what's considered to be Florida's largest industrial deal in two years, as well as the largest in South Florida in more than four years. Bullet Line took down 475,000 square feet of space at Centergate at Gratigny, adding to the more than one million square feet of lease transactions that have closed at the mixed-use Hialeah business park since Flagler took over as asset manager two years ago.

Purgatory. It may be the best word to describe the commercial real estate world in 2009. Sellers weren't selling. Buyers weren't buying. Lenders weren't lending. And fear prevailed.

MIAMI—Many closings come down to the wire, and some even have twists and turns as they do. Lately, creative deal-making strategies are taking center stage in South Florida.