Ft. Lauderdale | 2016 Top #CRE Markets to Watch: Office

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Office Markets to Watch. Not the largest or the most actively contested markets, the 2016 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Office Market to Watch: Ft. Lauderdale, FL

Ft. Lauderdale - top office market to watchFt. Lauderdale has experienced significant recovery from the recession but still remains below pre-recession peaks in both total employment and lows in the unemployment rate. Still, the economy is quite healthy with a 4.7% unemployment measure as of January ‘16, according to the Bureau of Labor Statistics. As part of a multi-metro region, Ft. Lauderdale offers relatively lower office rents and higher occupancies, as well as an overall lower regional cost of living (especially compared to Miami) and thus is a rational place to grow and expand a business. Key office sectors are displaying strength with Financial Activities, Professional and Business Services, and Information all markedly positive with annualized growth rates of 4.5%, 4.3%, and 2.1%, respectively. The office market of Ft. Lauderdale should perform well in 2016.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top office markets, download the full version of the 2016 Office Market Outlook report here.

2016 Office Market Outlook

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Office Spotlight: Sperry Van Ness Commercial Realty in Ft. Lauderdale, FL

This week, we turn the spotlight on Sperry Van Ness Commercial Realty with offices in Ft. Lauderdale and Hialeah, FL.

Keith Kidwell | President | Sperry Van Ness Commercial Realty
Keith Kidwell | President | Sperry Van Ness Commercial Realty

1. What has been your strategy for growing your firm and also your market share?
For over the past 11 years our strategy has not been to grow the firm, it has been to keep the firm small with seasoned commercial brokers and to run a highly efficient office to better serve our clients.

2. What are some of the unique activities you do to motivate your team? 
We have goal challenges with rewards.  If agents meet their goal challenges we will offer free or discounted trips to our state and national conferences, gift certificates, etc.  In addition, we sponsor golf and sporting clay teams for charity fundraisers.

 3. What’s been the biggest challenge in running your business in the last few years?
The biggest challenge has been in ensuring our agents have all the tools necessary to be as productive and as efficient as possible.  This includes keeping up with the latest in technology, social media, etc. and training them to use these tools.

4. How many Advisors/Staff did you have when you joined SVN? How many (in total) do you have now? 
We started the company 11 years ago with 5 agents and 1 staff member and currently have two offices, 6 agents and 2 staff members.  Small and efficient.

Keith Kidwell, SIOR, CCIM
Sperry Van Ness Commercial Realty
Ft. Lauderdale, FL

*All Sperry Van Ness® offices are independently owned and operated.