Sperry Commercial Global Affiliates | RJ Realty’s Ron Osborne Reps GCDC LLC In The Purchase Of Naranja Property
The transaction represents the sixth that Ron Osborne has completed with this buyer.
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The transaction represents the sixth that Ron Osborne has completed with this buyer.
The 1.6 million square feet leased in the second quarter is above the 1.4 million square feet quarterly average since the start of the pandemic.
Not all banks may be safe, but it does seem that many have taken precautions in advance.
A report commissioned by the DDA and authored by Walter Duke + Partners, a commercial real estate appraisal firm, concludes that the downtown area, which is defined as a 2.2-square-mile area that runs north of 17th Street to the central business district, Flagler Village and Sunrise Boulevard, “has an annual economic impact of $35.7 billion, a $6 billion increase from 2019.”
And these loans are coming due in a somber capital markets environment.
Fort Lauderdale’s real estate sector is up 21%, or $5.3 billion, since 2019. Over 17,000 residential units and 40-plus developments are planned for the city’s downtown area.
The firm’s survey showed an 18.3% rise in first half of 2023.
The asset sold for $5,750,000.
Traffic in Miami-Fort Lauderdale is cited as one reason for migration.
Despite the challenges, there are still deals to be found, especially when considering potential future corrections and market fluctuations.
Broker/President Ronald W. Osborne represents both buyers and sellers of commercial properties of all asset classes and types, focusing primarily on privately owned properties in South Florida, ranging in value from $1 to $10 million.
SperryCGA – RJ Realty
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admin@RJ-Realty.com