A Southern Surge in the Real Estate Market

The Southeast United States is rapidly expanding into an economic powerhouse and is gaining influence in the realm of real estate across the globe. Anchored by two gateway markets in Atlanta and Miami, the Southeast is home to numerous cities that are experiencing strong growth and cultivating educated workforces. By combining markets such as Tampa, Nashville, Charlotte, and Memphis, the Southeast is a destination for a wide range of international real estate investments. 

The Southeast is thriving in various sectors of commercial real estate, fueled by an increase in import and export activity, employment growth, and leisure travel. With an increase in manufacturing activity, industrial vacancy is at a record low for the region. Port cities like Savannah and Miami contribute to the industrial growth and Orlando provides a favorable location for E-Commerce users. Even with a rise in E-Commerce rates, retail development is consistent throughout markets such as Tampa and Atlanta, with vacancies near historic lows and asking rents near record highs. 

Asking rents for office space have also reached record highs across the region yet the southeast still yields a great value when compared to the rest of the nation. Nashville currently dominates in office space construction, with 3.5 million sq. ft. projected in the next two years, but an increase in population could incite additional construction in other markets. A larger population has led to more business and leisure travel, which in return has stimulated hotel development in the Southeast.

Click here for the full article from the National Real Estate Investor. Click here for more Front Street news.

Written by Front Street Intern Aaron Banks.