Premiums for commercial insurance at the end of 2022 in places like Texas, Florida and California jumped 30% to 50% or more, according to the institute.
There is evidence that electric vehicles and EV charging stations are significantly impacting real estate in terms of property values, spurring higher rental and resale values.
South Florida added thousands of new businesses in 2022, putting the region in the top three metropolitan areas nationwide for openings of everything from retailers to law offices.
Preliminary plans for what will become the Southplace City Center include a 150-key hotel, 60,000 square feet of medical office space, a terraced community amphitheater, golf cart trails, a trolley system, restaurants, retail and approximately 4,400 housing units to be built over a seven-year period.
In total, 15 restaurants in the Miami area made the top 100 list in 2021. That is more than all of the restaurants in both New York (10) and California (11).
While the property is currently in the final stages of planning, a number of tenant selections have already been secured and two floors fully renovated.
Construction is expected to begin as soon as city approvals and permits are obtained, with delivery one year later.
The County has issued an RFP for 17-acre site allowing for up to 23M square feet of real estate.
One third of the office space has already been pre-leased, the developers said, even before the project was publicly announced.
A partnership with Airbnb allows owners to rent their condos restriction-free.