Industrial Sector Poised to Deliver the Highest Returns as E-Commerce Continues to Grow
Despite the initial uncertainty following the Presidential election, South Florida real estate professionals have an optimistic outlook on the commercial real estate market in 2017, according to a new survey released today by Berger Singerman, Florida’s business law firm. Results from the third annual survey show that the majority of local real estate professionals expect 2017 will be better than 2016 for the South Florida commercial real estate market.
“We have seen record highs in the stock market, and increased consumer confidence. With confidence in the country’s economy comes confidence in the real estate market,” said Barry D. Lapides, partner at Berger Singerman and member of the firm’s Business, Finance and Tax Team.
The survey results show that 30 percent of respondents (an increase of 16 percent from last year) expect that the warehouse/industrial sector will have the highest returns in 2017, resulting from the growth of e-commerce and the need for warehouse and distribution centers. The growth of e-commerce and the increase in online shopping is also adversely impacting the outlook for brick and mortar retail stores with just 8 percent of respondents predicting that retail will provide the greatest returns (a decrease from 20 percent from last year).
