Florida’s real estate market is experiencing significant activity with major transactions and portfolio acquisitions across the state. From industrial parks to retail centers and office spaces, investors are actively deploying capital, signaling strong confidence in Florida’s economic growth and burgeoning population.
Saunders Real Estate Expands to Tampa
Saunders Real Estate, a prominent Florida-based firm specializing in land brokerage and commercial real estate, has opened a new regional office in Tampa. This expansion aims to meet the increasing demand for land investment, commercial property leasing, and strategic real estate consulting in one of Florida’s fastest-growing metropolitan areas. The new office, located at 1511 North Westshore Boulevard, Suite 220, will be led by Matt Christian and will offer a full suite of services for landowners, institutional investors, developers, and businesses.
Savlan Capital Acquires Jacksonville Office Portfolio
Savlan Capital has completed the acquisition of a substantial seven-building, approximately 765,000-square-foot office and flex portfolio in Jacksonville for $52 million. The properties are situated in the Lakeside and Flagler Center business parks. Despite facing some COVID-era vacancies, the portfolio is currently 57.2% occupied, and Savlan Capital plans to address the available space with immediate upgrades and tenant-focused leases. The firm intends to leverage its expertise in medical office conversions, capitalizing on the demand from healthcare users seeking proximity to major hospitals.
Major Retail Portfolio Changes Hands
In a significant transaction, a 10-property open-air retail portfolio totaling approximately 1.04 million square feet has been sold for $395.5 million. The portfolio, which includes properties across Florida and South Carolina, boasts a high occupancy rate of 91.6%. The diverse collection of retail centers is located in affluent areas with strong demographic profiles, indicating robust investor interest in well-positioned retail assets.
Viking Partners Invests in Florida Industrial Sector
Viking Partners has acquired a 409,000-square-foot portfolio of small-bay industrial assets across Daytona Beach and Vero Beach, Florida, for $50.4 million. This off-market transaction includes 30 multi-tenant buildings across four industrial parks. With an 89% current occupancy, Viking Partners sees a clear opportunity for value creation through leasing vacant space, optimizing existing leases, and implementing a capital improvement plan to enhance the properties.
Treasure Coast Residential Sales Highlight Market Activity
Beyond commercial and industrial deals, the residential sector also shows robust activity. In July, the Treasure Coast saw numerous high-value home sales, with a beachfront property in Indian River Shores leading the market at $11.75 million. These sales underscore the continued demand for premium residential properties across Florida’s desirable coastal regions.
Key Takeaways
- Florida continues to attract significant real estate investment across various sectors, including industrial, retail, office, and residential.
- Tampa’s growth is driving expansion for firms like Saunders Real Estate.
- Jacksonville’s office market is seeing renewed investor confidence with large portfolio acquisitions.
- The industrial sector, particularly small-bay properties, remains a strong investment focus.
- Open-air retail centers in affluent areas are trading at high values.
Sources
- Saunders Real Estate Expands to Tampa, Bringing Full-Service Land and Commercial Brokerage to One of
Florida’s Fastest-Growing Markets, citybiz. - Savlan Capital Acquires ±765,000 SF Office and Flex Portfolio in Jacksonville for $52M, citybiz.
- See the most expensive home sales across the Treasure Coast in July, Yahoo News.
- 10-Property open-air retail portfolio trades hands for $395.5M in Florida and South Carolina, JLL.
- Viking Partners Acquires Four Small-Bay Industrial Parks in Florida in an Off-Market Transaction, PR Newswire.