Real Estate in Northeast Florida and Around the World

The National Association of Realtors recently reported that a survey of foreign investors by the Association of Foreign Investors in Real Estate (AFIRE) resulted in 60% of those investors considering the U. S. as their top pick for buying commercial real estate. The reason for the choice is due to investment appreciation probability, not surprising since U.S. real estate is seeing record lows and the economic outlook is looking brighter in the U. S. than other areas of the world.

Locally in Florida, and specifically in Northeast Florida, this trend is also being seen. 36 companies have either expanded their operation or relocated their operation to the Northeast Florida commercial market in 2009 and 2010, the top 3 being in Logistics, Finance and Insurance, and Aviation. In addition, the Cecil Commerce Center has been named by the Federal Aviation Administration as a designated spaceport, and is being considered as a commercial spaceport in the future.

With the availability of easily accessed north/south/east/west national interstate highways (Interstate 95 and Interstate 10) intersecting in Jacksonville, which is the major metropolitan area in Northeast Florida, the location for trucking logistics is perfect. Add to that a major seaport and railway system, and it is no wonder that Logistics has quickly become a key industry for the area. In addition, the area is served by a large commercial airport in Jacksonville International Airport, and another large cargo and private aircraft airport in St. Augustine (Northeast Regional Airport). These airports are complimented by several commuter airports accommodating private aircraft around the area, making access to the area very easy.

Below is an example of the representative cost of commercial real estate, as provided by the Cornerstone Regional Development Partnership, which is the economic development partnership of the Jacksonville and Northeast Florida area Chambers of Commerce. Of course the information is somewhat dated from 2009, but this would give the potential investor an idea of commercial real estate information in the area. In addition, there is an abundance of land around the Northeast Florida area available for sale.

While my business expertise is in residential real estate, I have several esteemed colleagues with whom I am honored to be affiliated and am happy to assist in helping my customers with getting the appropriate connections. Should you have an interest in commercial real estate, give me a call to discuss your needs and let’s get started!