Naiop summary art

BoardroomPR commercial real estate PR specialists Don Silver and Eric Kalis attended industry organization NAIOP South Florida’s annual Economic Outlook event in Fort Lauderdale. More than 200 industry professionals came to the brand-new 550 Building to hear a panel of experts discuss important regional and national trends and issues.

Significant takeaways from the spirited discussion moderated by Darcie Lunsford of Butters Realty & Management include:

  • Wells Fargo economist Mark Vitner said the elements of a recession do not exist at the moment, but currency and the gap between income and housing costs are major concerns. Vitner also hinted at a potential bubble for technology firms that rely on selling data
  • Industrial real estate is the darling of the South Florida market thanks to e-commerce, but there is risk of overbuilding in other markets including Atlanta, according to Duke Realty’s Stephanie Rodriguez
  • Despite WeWork’s woes, Jay Caplin of Square2 Capital said coworking remains extremely viable due to corporate demand for such flexible product
  • Rocco Ferrera of Stiles said that the current real estate cycle has been the “longest and most profitable boom” in his career. He noted that the population influx in Florida and the Southeast, combined with businesses relocating to the region, portends well for continued growth
  • Vitner closed the discussion with the memorable quote “The U.S. is the cleanest dirty shirt in the closet compared to other countries”.

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