It’s summertime in the sunshine state and we all know it’s hot around here. However, this time it’s even hotter and it’s not just the weather that’s causing it! Tampa commercial real estate, along with many other locations and businesses in Florida, are popping up all over.
Things Are Changing Around Here!
Keep your head up and your eyes open. Look around at Florida from your local perspective and from a satellite view. You’ve noticed it’s growing all around you, but you will soon also notice it’s growing in many other parts of the state too. Here’s how:
Florida Population Growth
Very quickly, we became the 3rd largest state in population. Now, our Tampa metro has also become one of the hottest real estate markets for investment. People from all over the country and internationally are paying attention to our diverse and expanding demographics. They are paying so close attention that now they want to be a part of it. This is causing some structural changes in our economy and creating new norms.
Florida Industrial and Commercial Real Estate Growth
Every week you read a new article highlighting new accolades for our region. At work, you hear more and more large companies coming to the area, which brings new people moving here – and not just for retirement reasons. Construction is going on all around us and our aesthetic is improving with these new buildings and concepts. Our core drivers are still strong and our new economic drivers are vibrantly taking their place. Infrastructure is the next challenge we face so that we can support everyone coming here, along with everyone already here.
There’s a whisper that some type of recession is coming nationally, but you don’t hear many around Florida being worried about it. Sure, we need some pricing relief, but our foundation only seems to get stronger at a “new normal” level which means there have been some secular changes that should push us swiftly through an impending national recession.
Overall Growth in Consumer Confidence
Nationally the consumer confidence index rose again last month, although at a lower level than last year at this time, signaling that the near term should still expect to see continued growth through the summer but signs that a slow down in momentum is occurring.
The national employment trends are also moving in the same direction of positive growth but at a similar slowing pace with mostly lateral month-over-month gains. The expectations are all within desired ranges that don’t cause any panic or worry.
Welcome to Tampa! Your investments in this area are safe here…for the long term.
Call Fortress CRE, so we can talk expert advice on where your real estate strategy should be focused in West Central Florida. Fortress Commercial Real Estate (CRE) adds value to business owners looking to grow through their real estate, office and building needs.
Visit www.Fortress-CRE.com and call or email me for more sound advice.
