Pointe Group Advisors VP-development Margaret Nee, who's CREW-Miami prez this year, tells us the South Florida CRE recovery is broader than generally appreciated, especially outside the region. (Margarets with Maria Juncadella, last yearsCREW-Miami prez.) Hotels in South Beach are being acquired by well-heeled investors, retail assets are trading for record-setting prices, and major developments like Swires Brickell CitiCentre, Dacras Design District project, and dozens of multifamily developments, are taking off, she says. Following a challenging few years for Miamis residential and commercial markets, we've seen stabilization, and now growth.
With the improving market in mind, CREW-Miami recently launched Drive the Deal, a regional awareness and education campaign to encourage CRE pros to position for growth and to take calculated risks to make the most of Miamis improving market. Strike while the iron is hot, in other words. Domestic and international investors are betting large on South Floridas CRE future, according to Margaret, and so should the local industry.
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