{"id":69360,"date":"2021-03-04T10:13:43","date_gmt":"2021-03-04T15:13:43","guid":{"rendered":"https:\/\/blog.myewm.com\/?p=69360"},"modified":"2021-03-04T10:13:43","modified_gmt":"2021-03-04T15:13:43","slug":"secondary-markets-heating-up-for-commercial-investors","status":"publish","type":"post","link":"https:\/\/blog.myewm.com\/?p=69360","title":{"rendered":"Secondary Markets Heating Up for Commercial Investors"},"content":{"rendered":"<div class=\"field field--name-field-news-image field--type-entity-reference field--label-hidden field--item\">\n<div>\n<div class=\"far-media-image\">\n<div class=\"field field--name-field-media-image field--type-image field--label-hidden field--item\"><img loading=\"lazy\" src=\"https:\/\/www.floridarealtors.org\/sites\/default\/files\/styles\/full_width_main_image\/public\/page\/image\/2020-12\/gettyimages-1214936470.jpg?h=b95c0b0e&amp;itok=Kd9Kcih9\" alt=\"Tampa overview of buildings from the water at night\" width=\"1180\" height=\"406\" \/><\/div>\n<div class=\"field field--name-field-credit field--type-string field--label-hidden field--item\">Sky Noir by Bill Dickinson, Getty Images<\/div>\n<\/div>\n<div class=\"field field--name-field-caption field--type-string field--label-hidden field--item\">Tampa skyline<\/div>\n<\/div>\n<\/div>\n<div class=\"far-byline-social row\">\n<div class=\"col-sm-3 far-byline-date\">\n<div class=\"field field--name-field-displayed-published-date field--type-datetime field--label-hidden field--item\"><time datetime=\"2021-03-03T12:00:00Z\">MARCH 3, 202<\/time><span class=\"far-social-media-share-text\">\u00a0<\/span><\/div>\n<\/div>\n<\/div>\n<h1 class=\"field field--name-title field--type-string field--label-hidden field--item\"><em style=\"font-size: 16px;\">Florida Realtors economist<\/em><span style=\"font-size: 16px;\">: Investors are following renters into the suburban spillover markets. Strong demographics, population growth and an expected recovery in hospitality pulled the Tampa- St. Pete, Miami and Orlando markets into the top 20.<\/span><\/h1>\n<div class=\"field field--name-field-body field--type-text-long field--label-hidden field--item\">\n<p>ORLANDO, Fla \u2013 The CrowdStreet Investment team leveraged several resources in commercial real estate to determine the top market rankings for 2021. Strong demographics, population growth and an expected recovery in hospitality pulled the Tampa- St. Pete, Miami and Orlando markets into the top 20.<\/p>\n<h3>CrowdStreet\u2019s top 20 best places to invest<\/h3>\n<ol>\n<li>Raleigh-Durham<\/li>\n<li>Austin<\/li>\n<li>Phoenix<\/li>\n<li>Salt Lake City<\/li>\n<li>Dallas-Fort Worth<\/li>\n<li>Nashville<\/li>\n<li>Boston<\/li>\n<li><strong>Tampa-St. Petersburg<\/strong><\/li>\n<li>Atlanta<\/li>\n<li>Boise<\/li>\n<li>Charlotte<\/li>\n<li>Washington, D.C.<\/li>\n<li>Denver<\/li>\n<li>Seattle-Tacoma<\/li>\n<li>San Francisco-Oakland<\/li>\n<li><strong>Miami<\/strong><\/li>\n<li>Indianapolis<\/li>\n<li><strong>Orlando<\/strong><\/li>\n<li>Northern New Jersey<\/li>\n<li>Inland Empire<\/li>\n<\/ol>\n<p>Multifamily investors in particular should note the smaller-sized cities renters have been favoring over the past year, leaving behind their pricey urban centers and coastal cities for suburban locales, the Sun Belt and secondary gateway cities.<\/p>\n<p>Like their larger counterparts, smaller cities\u2019 multifamily fundamentals remained relatively stable thanks to government stimulus and eviction moratoriums that kept rent collections near pre-COVID levels. Collections never dropped below 93% in 2020, according to the National Multifamily Housing Council, helping to push vacancy rates for suburban multifamily product lower (to 6%) and downtown vacancy higher (to 9%).<\/p>\n<p>Cape Coral-Fort Myers emerged as a strong market for the Build-to-Rent product, which is currently a solid? asset type throughout the country. Overall, these communities have a strong outlook, fueled by the current tenant migratory trend that has been opting out of smaller, denser urban housing in favor of larger, less-dense housing options.<\/p>\n<p>Millennials are a driving force behind this trend. They\u2019re looking for more space as they contemplate a post-pandemic world where they still work from home for a portion of the week.<\/p>\n<p>Still, this demographic doesn\u2019t want to leave the amenities of urban living behind. They look to Build-to-Rent communities as a way to have the best of both worlds \u2013 the space of a single-family home without the isolation that comes from a typical suburban location. Markets with less land constraints, like Cape Coal-Fort Myers, fit the bill at this product type typically requires three to four times as much space as the standard garden-style multifamily property.<\/p>\n<p>Orlando continues to top the list for retail and hospitality investment despite the challenges these sectors have faced this past year. The fundamentals in place that made Orlando desirable prior to the pandemic persist, and indications of a recovery will set the area back on track for a strong recovery for these asset types.<\/p>\n<p>For the detailed report, visit\u00a0<a href=\"https:\/\/www.crowdstreet.com\/hp\/\" target=\"_blank\" rel=\"noopener noreferrer\">crowdstreet.com<\/a>.<\/p>\n<p>Source: Crowdstreet.com<\/p>\n<p>\u00a9 2021 Florida Realtors\u00ae<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sky Noir by Bill Dickinson, Getty Images Tampa skyline MARCH 3, 202\u00a0 Florida Realtors economist: Investors are following renters into the suburban spillover markets. Strong demographics, population growth and an expected recovery in hospitality pulled the Tampa- St. Pete, Miami and Orlando markets into the top 20. ORLANDO, Fla \u2013 The CrowdStreet Investment team leveraged [&hellip;]<\/p>\n","protected":false},"author":1401,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"saved","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[9,31,59],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69360"}],"collection":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/users\/1401"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69360"}],"version-history":[{"count":3,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69360\/revisions"}],"predecessor-version":[{"id":69363,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69360\/revisions\/69363"}],"wp:attachment":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}