I live in South Florida and enjoy it immensely, but I absolutely love it whenever I get a chance to visit Gainesville and my alma mater, the University of Florida.
That’s where I got my start in this crazy business called real estate, and it’s where I have a chance to give back as part of the UF Real Estate Advisory Board.
We just had a meeting at the Bergstrom Center for Real Estate Studies, and while I was there I had a chance to catch up with John Crossman of Crossman & Company.
Crossman’s sandbox is retail. He calls it the funnest part of real estate. But in order to effectively represent his clients in that space, Crossman has to be conversant in all commercial real estate types.
So I thought I’d take the opportunity to pick his brain and get a Florida real estate update in a whirlwind tour across the state.
The Panhandle
Growth is key, no matter what part of the state you’re considering, Crossman said. And in the Panhandle, we see growth.
St. Joe always has something going on, he said, and Pensacola and Tallahassee are helping to take the market in the right direction.
Jacksonville
Great leadership, combined with activity at the port, make Jacksonville a solid location, Crossman said.
Orlando
Central Florida just saw it’s biggest year of tourism ever, Crossman said. The most active areas for development center along I-4 and the Central Florida GreeneWay (SR 417), but Downtown Orlando is thriving, he added.
North Central Florida
This is the area just north of Orlando: Ocala, The Villages, and Gainesville, Crossman said. The Villages helped to establish a middle class in Ocala, and Gainesville is a solid, stable market.
Space Coast
There’s ups and downs here, Crossman said. The port is an area to watch. Other areas less so, but things are still trending the right way.
West Central Florida
Lakeland, Tampa and St. Petersburg are big, developed markets, Crossman said. Corporate expansion is prominent in this Tier 1 market.
South Florida
The depth of the South Florida market is amazing, Crossman said. Lots of new projects are coming online, and it’s likely that all will be successful. The amount of wealth makes for a bullish situation, he said.
Rental rates are rising apace, Crossman said, and redevelopment continues in many areas.
It was a wide-ranging interview, and we covered a lot more ground. Some of the high points:
– The overall retail market is good without being crazy.
– Publix is a great example of a retailer who is doing everything right.
– Crossman & Co. provides a number of free resources on its website for anyone interested in pursuing a real estate career. Visit http://www.crossmanco.com/.
– Crossman & Co. has endowed the first-ever real estate scholarships at Bethune-Cookman University and Florida A&M University.
Click here to listen to the full interview with John Crossman of Crossman & Company.
