Investors Still Hot for South Florida
CRE Florida Partners and Rauch Lupo Robertson & Co (CRE) prez Michael Rauch tells us 2014 promises to be a very strong year in South Florida commercial real estate investment volume. New investor confidence in the market spurs a lot of interest whenever the company brings new product to market, he says. The continuing loosening of underwriting metrics—ever so slowly, but steadily—is also helping rev up investor demand, both among smaller investors and institutions.
Naturally, some property types will continue to attract more suitors than others (and what do you buy an office building for Valentine's Day?). “While we believe the Class-B/C office segment will continue to struggle this year, while industrial, medical, and retail will continue their rebound,” Michael says. CRE recently tapped Michael, previously a principal and senior partner, to be president of the firm. As an investment and leasing specialist, he says, now’s the time for the company to expand, he says. CRE plans expansion through acquisition or new partnerships and will add brokers in Dade, Broward, and Palm Beach counties this year.