Beruflich Dokumente
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Columbus Office:
INVESTMENT FORECAST
230 West Street, Suite 100
Columbus, OH 43215
(614) 360-9800
Austin Office:
Cincinnati Office:
Craig Swanson Vice President/Regional Manager
9600 North Mopac Expressway, Suite 300
Austin, TX 78759
Colby Haugness Regional Manager
600 Vine Street, 10th Floor
MULTIFAMILY (512) 338-7800 | craig.swanson@marcusmillichap.com
Cincinnati, OH 45202
(513) 878-7700 | colby.haugness@marcusmillichap.com
2020
Fort Lauderdale Metro Area
Year-over-Year Change
remains a popular destination for retirees because of its favorable tax and weather climate. The 12 3%
Fort Worth Office:
metro is one of the leading destinations for retirees 65 and older in the nation. Young profession-
8 2%
als are also increasingly drawn to Broward County for its mix of major corporations, including Mark McCoy Regional Manager
300 Throckmorton Street, Suite 1500
American Express, Citrix and AutoNation, Bostonalong with
Office:rental rates below those in Miami and West 4
Fort Worth, TX 76102 1%
Palm Beach. Both the young adults and retirees are fueling rental demand as it offers flexibility, (817) 932-6100 | mark.mccoy@marcusmillichap.com
John Horowitz First Vice President/Regional Manager 0 0%
amenities and quality locations proximate 100 to services.
High Street,Renters
Suite 1025are being drawn to rapidly trans-
11 12 13 14 15 16 17 18 19* 20**
Boston, MA 02110
forming areas of the market like Flagler Village, which caters to millennials with trendy restaurants
(617) 896-7200 | tim.thompson@marcusmillichap.com
and nightlife while also being located a short distance to mass transit. Dania Beach is in the early Denver Office:
stages of a major revitalization of its city center as well as Dania Pointe nears completion and other Completions
Skyler Cooper vs. Absorption
Regional Manager
projects are in the works. 1225 17th Street, Suite 1800
Completions Net Absorption
Denver, CO 80202
Charleston Office: (303) 328-2000 | skyler.cooper@marcusmillichap.com
6
Demographics and property performance sustain investor appetite. An abundance of capital
Benjamin Yelm Regional Manager
will pursue opportunities in Broward County this year, motivated
Suite 450 by strong underlying demand
Units (thousands)
151 Meeting Street, 4
that keeps rents on an upward trajectory. An attractive
Charleston, yield profile also boosts liquidity in the
SC 29401
(843) 952-2222 | benjamin.yelm@marcusmillichap.com
market with buyers often finding cap rates in the low-6 percent band and sometimes in the mid-7 2
percent territory for smaller Class C properties. The suburban areas of Plantation/Sunrise and Detroit Office:
0
Pompano Beach/Deerfield Beach will maintain investor interest among both private investors
Steven Chaben Senior Vice President/Regional Manager
and institutional groups for their mix of modern Class A complexes and value-add opportunities. Two Towne-2 Square, Suite 450
Southfield, MI 114807612 13 14 15 16 17 18 19* 20**
Flagler Village and other areas of downtown Fort Lauderdale
Charlotte Office: will remain in investor focus because
(248) 415-2600 | steven.chaben@marcusmillichap.com
of the Brightline express train, which now connects the business districts of the three South Flori-
Benjamin Yelm Regional Manager
da metros, sustaining strong demand from 201
young
Southprofessionals.
Tryon Street, Suite 1220 Vacancy and Rents
Charlotte, NC 28202
(704) 831-4600 | benjamin.yelm@marcusmillichap.com Vacancy Rent Growth
8%
$180 24%
Fort Lauderdale Office:
up 3.7% $1,700 per month in 2020.
Year-over-Year Growth
Cincinnati Office:
Ryan$135Nee District Manager 18%
ColbyBeach
Haugness 5900 N. Andrews Avenue, Suite 100
Investment Zoning changes in Dania allowRegional
for more small-lot mixed use develop-
Manager
600 Vine Street, 10th Floor Ft. Lauderdale,
$90 FL 33309 12%
ment, motivating developers to move
Cincinnati, OH 45202 forward with plans that will reshape (954) 245-3400 | ryan.nee@marcusmillichap.com
the city center. The Dania Pointe
(513) 878-7700 development and proximity to I-95 boost
| colby.haugness@marcusmillichap.com $45 6%
sentiment of the area.
$0 0%
10 11 12 13 14 15 16 17 18 19*
Metro-level employment, vacancy and effective rents are year-end figures and are based on the most up-to-date information available as of November 2019. Effective rent is equal to asking rent less concessions. Average prices and cap rates are a function of
the age, class and geographic area of the properties trading and therefore may not be representative of the market as a whole. Sales data includes transactions valued at $1,000,000 and greater unless otherwise noted. Forecasts for employment and apartment
data are made during the fourth quarter and represent estimates of future performance. No representation, warranty or guarantee, express or implied may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a
forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice.