The CEO of the group related to Jon Paul Perez and the founder of the Integra Investments and the president of the Builders of Florida, Nelson Stabile, react to the data showing tens of thousands of high winners fled New York for Florida, bringing their wealth with them.
The retailers flock to Florida.
This is obvious because the retail vacancies at West Palm Beach are practically non -existent this year, with occupancy rates approaching record heights, a trajectory nearly a decade of manufacturing, according to Ken Himmel, president of Ross related.
Himmel assigned this request to “deliberate and supported migration of individuals, financial leaders and technology leaders to the south of Florida” since the first days of the coronavirus pandemic in 2020.
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“With nearly 90,000 new residents added to the County of Palm Beach in a few years, the evolution of the city of the city of seasonal parking in the city was fast and strategic,” said Himmel.
The dynamic state economy, the growing population and the favorable tax environment make investment in commercial real estate in the state of Sunshine very profitable, according to the commercial and industrial real estate brokerage Steinbauer Associates, Inc.
The boats accosted alongside single-family houses in Palm Beach, Florida, the United States, Wednesday, April 7, 2021. (Marco Bello / Bloomberg via Getty Images / Getty Images)
Cityplace, a district of West Palm Beach, is developing more than 125,000 square feet with new retail brands such as Equinox, clothing brands such as Alo and Reformation, high -end makeup retailers like Bluemercury and retail stores at home like Crate & Barrel.
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“While the best investment companies and the establishments open up nearby offices, they bring with them a very educated and well -offset population looking for high lifestyle experiences,” said Himmel. “This request is satisfied with integrated developments for mixed use such as Cityplace, which combines offices, residential and salespeople in a very accessible district on foot which has created integrated pedestrian traffic and a constant demand flow helping to push the vacation rates below 3%, even if new square images are online.”
West Palm Beach Skyline includes Royal Park Draw Bridge, West Palm Beach, Florida. (Visions of America / Joseph Sohm / UCG / Universal Images Group via Getty Images / Getty Images)
Himmel said the developers worked quickly to meet demand.
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“While financial services and innovation centers take root in the city, the retail trade increases in parallel and feeds an independent growth and demand cycle that continues to accelerate,” he said.
Kelly Lyles of KL International Realty also witnessed an increase in retailers moving in Florida.
“With companies like Foot Locker moving from New York to Saint Petersburg, many retailers seek to increase their footprint throughout the state of Sunshine,” said Lyles, adding that certain companies that already have a significant presence in Florida in the state also seek to develop. Publix, for example, plans to open a supermarket of 50,000 square feet in Panama City Beach.
West Palm Beach, Lake Worth Lagoon and Marina. (Photo of: Jeffrey Greenberg / Universal Images Group via Getty Images) (Jeffrey Greenberg / Universal Images Group via Getty Images / Getty Images)
“Florida is a diversified state with an increasing population and has always been a place where people have sought to move. However, nowadays, low taxes and lower life costs lead consumers and retailers here,” said Lyles.
