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Talk about a banner year. Cushman & Wakefield's Capital Markets team, based in Tampa, closed 33 deals in 2016 worth more than $1.25 billion.
Executive Managing Director Mike Davis attributes the volume to historically low interest rates, “excellent” market fundamentals across the Southeast, investor fears over escalating stock prices and bond valuations, and concerns over future inflation hikes.
“It's been an extraordinarily robust time for commercial real estate,” says Davis, in a company video. “If you're concerned about future inflation, and that's certainly something that people have been talking about, then hard assets are a great place to have your money.”
Davis, who works together with Senior Directors Rick Brugge and Michael Lerner, also notes the rise of online e-commerce has “hyper charged” industrial real estate development in key population centers — including the Interstate 4 corridor.
The trend has created “record absorption over the past three years, unlike anything we've ever seen in the history of industrial real estate,” Davis says.
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