South Florida has seen explosive growth on almost every front over the past few years. A population boom, seismic construction and the evolution of the ideal workplace have created a commercial real estate landscape that can be difficult to navigate. Below you will find 10 things we are tracking to help keep you informed.

1. 10things toknow
Keys to
the future
Global
access granted
Keep
the change
Giant
moves
Got
talent!
Inventing
strong
We speak
the language
Eye of
the storm
The sun
always rises
Wyn-ing?

2. 1. Keys to the future
Having been founded in 1875, Miami—Fort Lauderdale—
West Palm Beach is one of the youngest MSAs, yet its
population ranks among the country’s top 10 and has the
15th highest projected growth rate.
Even though the city is young in years, it brings sage
experience. Residents average 41 years of age, the most
mature average population of major metros. That makes it
a place where businesses thrive.
South Florida |Ten Things to Know 2

3. South Florida |Ten Things to Know 3
2. Global access granted
You (and your business) can get there from here...
by air: Our 10 airports (three international, seven private)
and 150 direct flights to South and Central America are
the most of any MSA.
by sea: Port Miami is the No. 1 largest passenger port
in the world (also ferries $9.8 billion in trade). Port
Everglades is the No. 1 container port and seaport for
Florida exports.
by deals: Of the top 30 private employers in the region,
10 are aviation, trade and logistics or cruises.

4. 3. Keep the change
Our zero local and state personal income taxes—and near-
lowest business taxes in the country—incentivize families
and businesses to plant roots.
Florida ranks no. 2 on Chief Executive Magazine’s Best for
Doing Business list.
Miami made it on Amazon’s finalist list for HQ2.
Nation’s sixth least expensive major MSA (avg. SFL asking
rent $35.35).
South Florida |Ten Things to Know 4

5. 4. Giant moves
Job growth: Since 2000, South Florida has added 550,900
jobs while maintaining an unemployment rate at 70 basis
points lower than the country overall.
Corporate strength: Some of the biggest new-to-market
tenants over the past five years have been Conifer,
Envision, SR Technologies, Cambridge Innovation Center,
Ford Motor and Total Bank.
Talent boost: Most of South Florida’s domestic migration
hails from New York City, Orlando, Atlanta, Tampa and
Philadelphia.
South Florida |Ten Things to Know 5

6. 5. Got talent!
Florida has won the top spot on U.S. News & World
Report’s Best State with Higher Education for two
consecutive years.
More than 250,000 higher-education students call the
tri-county area home, making us competitive with most
major metro areas.
Roughly 63,000 students matriculate each year, providing
a pipeline of skilled labor for the region’s companies.
South Florida |Ten Things to Know 6

7. 6. Inventing strong since sunscreen
Since Benjamin Green invented Coppertone sunscreen
in 1944, South Florida has been fostering business
innovation and entrepreneurship. The MSA ranks No. 1 on
Kauffman Foundations’ U.S. Cities for Startup Creation.
Leasing activity in 2018 was dominated by Finance (28.2
percent), PBS (22.6 ­— 50 percent of which is legal activity),
Health (11 percent) and Technology (8.1 percent).
South Florida |Ten Things to Know 7

8. 7. We speak the language
Known as the U.S. gateway to LATAM, our population
speaks over 90 languages. What’s more, 100 consulates,
foreign trade offices and bi-national chambers of
commerce reside here.
South Florida’s diversity and favorable geographic location
count among the reasons 16 Fortune 1000 companies
headquarter here.
South Florida |Ten Things to Know 8

9. 8. Eye of the storm
The eye of development is shifting from the suburbs
to the CBD. Since 2009, 45.7 percent of development
concentrates in the CBD, compared to 18.9 percent
developed between 2000 and 2008.
Fort Lauderdale ranks among the top 10 markets set to
grow, with 4.7 percent under construction as a percentage
of inventory.
A bullish development pipeline boasts 11.6 million square
feet, which represents 14.3 percent of existing inventory.
The highest-activity submarkets are Downtown Miami,
Brickell, Plantation, North of Downtown (including
Wynwood and Design District), Coral Gables and Aventura. South Florida |Ten Things to Know 9

10. 9. The sun always rises
For nearly two decades, South Florida’s glowing economy
has been consistently heating up. Over the past 17 years,
GDP growth in the region (4.0 percent) has outpaced
that in the state and country (3.9 percent). This market
resilience over three economic periods speaks to lasting
business appeal.
South Florida |Ten Things to Know 10

11. 10. Wyn-ing?
The whole town is talking about the fringe and trending
Wynwood and Design District. Situated in North of
Downtown, the submarket has experienced a leap frog
expansion this economic cycle. Retail landlords have
been winning, commanding Brickell-competitive rents.
Because of this success, office development has picked up
pace. With the deliveries of Wynwood Garage, Wynwood
Cube and a pipeline greater than 500,000 square feet, the
micromarket is entering a new phase. The year will be
telling for how well office product succeeds in this retail-
rich environment.
South Florida |Ten Things to Know 11

12. Want to learn more about these trends and others? Contact us to be in the know.
Hensley Loeb
Director of Business Development and Research
Hensley.Loeb@am.jll.com