Florida's industrial real estate market is flourishing due to low mortgage interest rates. This press release throws light on data that supports this boom in the industrial sector.
Coral Gables, FL -- (SBWIRE) -- 11/13/2014 -- According to a study by Commercial Industrial Association of South Florida, banks are now giving a huge boost to uplift Florida’s industrial market by allotting a greater portion of their finance into commercial and industrial loans.
The research states that industrial loans by banks in Florida have doubled since last 7 years and a major shift has been observed in their lending patterns. Banks are now more inclined towards providing loans for construction of industrial projects than any other sector in South Florida. One of the most obvious reasons behind this is the tremendous growth of the Florida’s industrial market in the last decade.
2 million square feet of area was under construction in the industrial market and it is now ready for sale. There are multiple projects under new construction due to the increase in demand for commercial properties on lease. The market for Design-Build projects is booming and more and more users are looking forward to ownership.
Another driving force behind the industrial growth in Miami is the residential and retail development that happened due to the tremendous influx of tourism in the state. Flagler a trusted name In Florida’s Industrial Market, feels that the state will continue to be a desirable market for investment due to its easy access to two of the largest ports in South Florida which are Miami and Fort Lauderdale. Improved infrastructure facilities and extremely strong demographics revolve around both of these ports.
Even when land prices continue to soar, many real estate developers like Flagler Dev are focusing on yielding new construction properties rather than developing and buying older ones.
About Flagler Dev
Flagler Dev is a commercial real estate agency in Florida that offers quality oriented properties. They have helped thousands of prestigious clients in South Florida in buying, selling and leasing of commercial real estate.
Further information can be obtained on their website flaglerdev.com