Florida’s real estate and business landscape is buzzing with activity, marked by significant developments, notable figures, and even the passing of a prominent developer. From major commercial projects and international investment trends to the personal lives of celebrities and the impact of local safety initiatives, the Sunshine State continues to capture attention.
Real Estate Market Dynamics And Developments
Miami’s commercial real estate sector is showing strong performance, with the city boasting the third-largest office asking rate and fifth-highest sale price per square foot. Its vacancy rate of approximately 14.3% is lower than the national average, positioning it as a key Southern office market.
Several significant projects are underway across the state:
- Riverview: Ryan Companies, in partnership with Exalt Health, is developing a new 40,000-square-foot inpatient rehabilitation facility with 40 beds, adjacent to BayCare St. Joseph’s South Hospital.
- Orlando: Forman Capital has provided a $9.7 million preferred equity investment for the development of Elysian, a 323-unit rental apartment project.
- Fort Lauderdale: CP Group has been appointed by Värde Partners to manage One Financial Plaza, a 283,000-square-foot office tower in the downtown area.
- Miami Beach: Lincoln Road has seen over 24,000 square feet of new leases, including the Florida debut of All’Antico Vinaio and expansions by Victoria’s Secret/PINK and Alo Yoga.
Notable Figures And Their Legacies
The Florida business community mourns the loss of Don Soffer, a visionary developer and philanthropist who passed away at 92. Soffer was instrumental in transforming 785 acres of swampland into the thriving City of Aventura, developing the iconic Aventura Mall, residential communities, and golf resorts. His legacy is deeply embedded in the community he helped create, earning him the title of Aventura’s "godfather."
In other news, wrestling icon Hulk Hogan’s Florida home in Clearwater, a 5,400-square-foot beachfront property with five bedrooms, has been highlighted. Hogan, who was raised in Florida, also owned a smaller adjacent property. His passing on July 24th due to cardiac arrest was widely reported.
Economic Trends And Local Initiatives
Florida continues to attract international real estate buyers, accounting for over a fifth of foreign property transactions in the U.S., totaling nearly $12 billion. Canadians remain the top foreign buyers in the state.
On the local front, the Boca Raton Police Department is implementing a School Zone Safety Program using traffic cameras to enforce speed limits in school zones, with citations issued for speeds 10 mph or more over the limit when lights are flashing.
Weather And Gas Prices
Florida is experiencing hot and humid weather with a chance of rain and thunderstorms. A Saharan dust plume is expected to bring drier conditions later in the week. The National Hurricane Center is monitoring a disturbance in the northeastern Gulf of Mexico with a low chance of development.
Gas prices have seen an increase, with the average price for regular unleaded in Florida reaching $3.09 per gallon.
Sources
- Florida People & Companies, July 25, 2025, Connect CRE.
- Florida News That Impacts You – July 24th, 2025 | 1290 WJNO, 1290 WJNO.
- Real estate mogul Don Soffer, developer of Florida’s Aventura Mall and city’s "godfather," dies at 92, CBS News.
- Hulk Hogan’s Beautiful Florida Home, EntertainmentNow.