Translate:

Has South Florida Commercial Real Estate Bottomed Out? Experts Discuss at NAIOP Event

July 21, 2023

Eric Kalis

South Florida, one of the most resilient commercial real estate markets in the nation, might already be at the bottom of the current cycle. That would be great news for the second half of 2023. The notion was conveyed during NAIOP South Florida’s Mid-Year Update, an event that attracted many brokers, developers, investors, construction executives and other industry professionals.

Longtime BoardroomPR commercial real estate client Jaime Sturgis, CEO of Native Realty, was among the featured speakers at the NAIOP event in Fort Lauderdale. Key insights from Sturgis included:

Retail leasing activity remains very strong, with intense demand for restaurant space from New York and Chicago-based operators. Second-generation restaurant space is a precious commodity
Insurance is the sector’s “silent killer,” as some commercial real estate owners are seeing year-over-year cost increases as high as 300%. That cost burden is passed down to tenants through triple-net leases (NNN) and stifles the ability to sell properties

The rising cost of capital is the second-biggest challenge for the sector, behind insurance costs
Emerging markets to watch include Fort Lauderdale’s Studio City, Progresso and South of Las Olas (SoLo) neighborhoods. Pompano Beach’s Old Town district is another area experiencing notable growth

CBRE Vice Chairman Robert Given agreed that insurance is a major commercial real estate sector challenge. He predicted that transaction volume should surge in 2024, while increased development activity could follow a year later.

“Survive to ’25 is the motto” commercial real estate developers are adopting, according to Given.

At BoardroomPR, our skilled publicists utilize our storytelling abilities and media relationships to secure positive media coverage for our real estate clients. BoardroomPR is proud to be the public relations and integrated marketing partner of a diverse roster of distinguished real estate companies.

Eric Kalis 1

Eric Kalis

Vice President

tags: Client News, Commercial Real Estate, public relations, real estate

categorized in: Real Estate

let’s talk.

Boardroom communications generated tremendous news coverage for us nationally in newspapers, magazines and on television. They are a dedicated team of professionals who do whatever it takes to get the results we needed.

- Arnie Simon

Vice President, Wolfgang Puck Professional Cookware

Keyes has partnered with BoardroomPR for over 7 years. We started with them to promote the rebranding of a 93-year-old brokerage that needed publicity as the largest family-owned brokerage in Florida. Don, Eric, and Daniel have been part of our team since then, bringing eyes to our company, leadership, realtors and thought leaders in the industry. Just over a year ago we added their social media management and video creation service, and Veronika has absolutely transformed our platforms.

- Aaron Fisk

Keyes Company

BoardroomPR has done a tremendous job creating and building a brand for our upscale real estate developments. There’s no one better at delivering national and international press – and creating and executing themed events that draw top luxury brokers and targeted buyers to our projects.

- Neil Fairman

President, The Plaza Group

The team at BoardroomPR is flexible, efficient and professional. What impresses me the most is that they have great understanding of our business, and are always proactive in searching out media opportunities in the publications that matter to us.

- Vicky Jones

Dir. Business Solution Design, C3/C.C.C.

Boardroom promised us results and they delivered. The Wall Street Journal’s front page, Forbes, CNN, and NBC are just a few examples. Boardroom’s media experts spoiled us. They also helped us successfully launch Equilibrix, our email marketing company.

- Miriam Cohen

President, SelectJOBS.com and Equilibrix

“BoardroomPR has been an invaluable partner in helping the Family Resource Center fund-raise, friend-raise and become better known in the community. Their team applied its considerable skill and creativity to help raise awareness using a multi-media approach and ultimately helped us develop contacts in the community.”

- Oren Wunderman Ph.D

Executive Director, Family Resource Center

BoardroomPR did an excellent job of getting our name out into the community. I was very pleased with their services and highly recommend them.

- David Schulman

General Agent, DBS Financial / Mass Mutual

BoardroomPR worked as our strategic marketing department to transform our social media, get us in the news and launch a influencer campaign that has grown audience and engagement. The team was always on top of the game, coming up with creative ideas to promote PoolCandy and get us results, getting featured on multiple Top 10 lists.

- Shane Samole

President, PoolCandy

We have seen terrific results through our partnership with BoardroomPR and their corporate culture has made it amazingly easy for every member of our team to engage them. BoardroomPR has put the “personal results” back in public relations.

- Peter Dyga

President & CEO Associated Builders and Contractors

I was the first employee hired at Boardroom in 1990 and I’ve since watched the company grow with the same integrity, dedication and ROI. Boardroom is top of my list when referring a client to a PR agency.

- Lisa Buyer

Author of Social PR Secrets