Orlando

The primary submarket for this 18-hour city trend in Jacksonville is the downtown area, but it has been slow to develop. However, other urban core and inner suburban submarkets are picking up the slack with numerous multifamily developments.

The brokerage firm in its first quarter 2019 market snapshot report notes that availability and vacancy are near all-time lows and rental rates continue to increase at a 3.5%-4% annual rate.

The purchase of Concourse Center brings Dilweg's Florida office holdings to nearly 1.2 million square feet and its Southeast office holdings to nearly 6.5 million square feet.

Walker & Dunlop brokered the transaction for the 180-unit property, which is capturing some of the highest rents in the state, for Bluerock.

The two locations add a combined 59,262 square feet of co-working commercial space to CGI Merchant Group's The Nexus Workspaces portfolio.

The sale price more than likely is north of $100 million since CrossHarbour acquired the property in 2016 for $101 million and since then undertook a multi-million-dollar capital improvement plan at the hotel that was completed in 2017.

Davis, Kellogg and Morrison have worked as team for more than four years and bring 40 years of combined experience in the Orlando office market.

With the additional guidance provided with these new regulations, I expect to see a significant uptick of investments in those and other areas in South Florida, including Coral Gables, Allapattah, and up the coast into Fort Lauderdale and Hollywood.