South Florida Intercoastal

Anchor Meeting Features Walter Duke & Partners

By: MIASF Staff

Date posted: Jun 28, 2022 Tue

At this month’s Anchor Member meeting, we welcomed guest speakers, Walter Duke III and Albert Owler, from Walter Duke & Partners to update attendees on the status of the commercial real estate market. Florida is still considered “open for business” and a target for investor markets. Downtown public commercial units are down approximately 50% in their occupancy, but single-entry buildings are seeing a larger interest. In the marine segment, it was also noted that the Real Estate Investment Trust (REIT’s) are investing and looking for additional marine properties. They are currently earning approximately 4%, which is an acceptable return at this time. Albert also stated he is seeing slips selling for $150,000 - $200,000, which is a significant increase.