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Cushman & Wakefield’s 2018 Florida Population Report Predicts Top Growth Markets

ORLANDO, February 22, 2018 – Cushman & Wakefield has released its 2018 Florida Population Reports, which detail projected population growth statewide and in nine major markets throughout Florida. The overall report predicts that Florida’s population will increase by just over 450,000 people in 2018, as compared to 430,000 in 2017.
In the next five years, the state’s population is expected to increase from 21 million to 23.3 million.

Of the markets examined, the Fort Myers MSA will see the greatest change in year-over-year population growth, while Miami is expected to see the smallest change. Tampa ranks as the largest MSA in the state, and Orlando boasts the lowest unemployment rate.

“Florida’s population grew significantly in 2017, aided by continued net migration from northern and high-tax states,” said Chris Owen, Cushman & Wakefield’s Florida Research Manager. “In addition, thousands of Puerto Rico residents also migrated to the state after Hurricane Maria. Whether the majority of them stay or ultimately go back to the island will depend on reconstruction efforts and any boost to economic activity.”

Cushman & Wakefield’s Florida Market Leader, Larry Richey, added: “As an expanding consumer market, Florida benefits from recent population increases that will in turn continue to support new construction and development in commercial real estate. We see overall fundamentals improving, which will be enhanced by the pace of net migration both from out-of-state and Puerto Rico. These new residents will also alleviate some of the pressure on already tight labor markets.”

An overview of the Population Report for each market Cushman & Wakefield analyzed is below (in descending order of projected growth rates):

1. Fort Myers: Population is expected to increase by 3.6 percent, from 748,000 to 775,200, year over year. This market is projected to see the most significant change in population of those examined, fueled by favorable demographic trends and lower costs compared to South Florida.
2. Orlando: Population is expected to increase by 3.2 percent, from 2.4 million to 2.52 million year over year. This growth is bolstered by strong job creation, as Orlando adds 1,000 new jobs a week and has an unemployment rate of 3.3 percent — the lowest in the state.
3. Palm Beach: Population is expected to increase by 2.8 percent, from 1.4 million to 1.52 million year over year. The Palm Bach MSA has seen a growth rate of 3.1 percent annually over a 10-year period.
4. Indian River: Population is expected to increase by 2.7 percent, from 148,000 to 159,700 year over year. Large-scale residential communities in this East Coast MSA were popular in 2017, with a significant number of homes in the planning and construction stages.
5. Lakeland: Population is expected to increase by 2 percent, from 677,270 to 689,600 year over year. Lakeland’s central location between the high-growth markets of Tampa and Orlando puts it in the middle of 8.6 million people within in a 100-mile radius. Average home values will remain the lowest in the Lakeland market at $194,910.
6. Jacksonville: Population is expected to increase by 1.9 percent, from 1.5 million to 1.6 million year over year. Strengthened by new tourists, military spending and infrastructure, Jacksonville is expected to outperform the state and the country in terms of growth over the next several years.
7. Broward County: Population is expected to increase by 1.8 percent, from 1.89 million to 1.98 million year over year. Broward County’s high quality of life, marked by a broad scope of opportunities, positions it for continued expansion.
8. Tampa: Population is expected to increase by 1.8 percent, from 3 million to 3.14 million year over year. Tampa is the largest MSA in the state and the 18th largest nationwide. With an increasingly business-friendly environment, further growth is anticipated as Tampa continues to attract companies from around the country.
9. Miami: Population is expected to increase by 1.4 percent, from 2.7 million to nearly 2.8 million year over year. The Miami MSA is projected to see the least growth of the markets examined. Average home values will remain the highest in the state at $345,130.

Read the full reports here.


For the fifth year in a row, Cushman & Wakefield has been ranked #1 in the Commercial Real Estate Firm: Tenant Representation category of the Best of The National Law Journal (NLJ) survey. Cushman & Wakefield was also ranked #1 in Property Management and Brokerage, sweeping the real estate categories for the second time in this prestigious survey.

The Best of NLJ is a reader ranking survey of the top providers to the legal marketplace. The survey encompasses all important aspects in the practice of law and the winners highlight the businesses and individuals who garnered the most votes from members of the legal community.

“Being ranked #1 by The National Law Journal five years in row is a true testament to the hard work and dedication of the members of our Legal Sector Advisory Group,” said Sherry Cushman, Leader of Cushman & Wakefield’s Legal Sector Advisory Group (LSAG). “Our unique combination of strategic advisory services and proprietary thought leadership have made us leaders and trusted advisors to the legal sector locally, nationally, and globally.”

For more information on the Best of The National Law Journal 2018 reader survey, visit


The rise of the flexible workplace has been one of the driving factors of recent positive office performance, particularly in Central London.

Across Central London alone, flexible workplace providers have taken nearly 20% of office space, while competition in the regional cities is intensifying.

In response to such growth, industry stakeholders are rapidly examining their approach not only to the sector but also to flexibility in general.

How will this fast growing sub sector evolve and what does it mean for traditional office space? In this report, we consider how the sector has expanded across Central London and the UK regions and how business models from both operators and landlords are adapting to changing customer demands.

Click the photo below to read the full report.


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