Favorable climate in every sense
Best & brightest minds reside
Following trends in the market
FLORIDA proudly pro-business
Consistently ranked one of the best states for business, Florida is committed to keeping regulatory requirements and business taxes low. This along with a strong economy and zero personal state income tax, makes it a great place to do business.
A favorable tax climate, geographic location, and robust infrastructure make Florida a destination for business. The state imposes no personal income tax, a significant draw for both businesses and individuals. Florida also boasts a welldeveloped transportation network with major ports, highways, and airports, facilitating both domestic and international trade.
The state government also provides incentives and support programs, such as tax credits, grants, and workforce training initiatives. Florida’s diverse economy spans industries like tourism, agriculture, aerospace, and technology, and offers a dynamic environment for business growth and innovation.
#1 State in new high-tech business establishments
What doesn’t Florida have?
CompTIA Cyberstates Florida has no...
• Corporate income tax on limited partnerships
• Corporate income tax on subchapter corporations
• State personal income tax guaranteed by constitutional provision
• Corporate franchise tax on capital stock
• State-level property tax assessed
• Property tax on business inventories
• Property tax on goods-in-transit for up to 180 days
2nd
Largest foreign trade zone in the U.S. International Trade Administration
• Sales and use tax on goods manufactured or produced in Florida for export outside the state
• Sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
• Sales/use tax on co-generation of electricity
4th Best tax climate in the U.S. Tax Foundation
#1 State for new business formation U.S. Census
$200B in international trade International Trade Administration
& THE BEST BRIGHTEST
As the #1 state for inbound migration, Florida is a magnet for talent and the brightest minds. Tax Foundation
There’s a significant amount of wealth moving to Florida. This means more job creation, discretionary spending, and more real estate investing.
Patrick Nutt SRS Capital Markets
Florida leads the nation in income migration. TheFloridaScorecard.org Net Income Migration
$23.7B+
Florida is the #1 state for attracting and developing talent. Lightcast
Over 32% of degrees awarded are science and engineering degrees National Center for Education Statistics #1 state for higher education U.S. News & World Report #1 in high-tech employment in the Southeast CompTIA Cyberstates
Florida is the leading producer of STEM graduates National Center for Education Statistics
2.7K+
ECONOMY CRE MARKET
Florida is a top state for business establishments in a wide range of industries.
Bureau of Labor Statistics
24K+ Manufacturing Establishments
A robust economy
Florida’s economy now ranks as the 14th largest economy globally if considered as a country. The state’s economy is valued at $1.44 trillion. Florida Chamber of Commerce
The housing sector is expected to rebound sharply in 2024 after a decline in sales and construction in 2023. Single-family construction is expected to lead recovery. Comerica
Florida’s employment continues to rise, surpassing New York to become the #3 state in terms of employment. JamesMadison.org
Retail supports 28% of jobs
Florida’s retail industry generates substantial revenue, contributing $357B+ annually. Florida Retail Federation
Florida is a tight market
Very little new construction and low turnover is keeping vacancy low and driving rents higher.
Current Asking Rent / YOY % Change
Retail Space with $6.6M Net Absorption
Florida is attractive to most national retailers, and we are seeing an influx of new restaurant and entertainment concepts compete for space here.
John Artope SRS Retail
* Miami-Dade County Only
Florida has emerged as the dominant state in the nation with other high growth, tax-friendly states like Texas, Tennessee, and Arizona following closely behind.
The demand to own investment real estate within the state of Florida has pushed cap rates lower and values higher for all asset classes compared to like-kind assets in other states. Similarly, the influx of wealth and demand in South Florida combined with the natural barriers of entry has created a further premium compared to the northern portions of Florida, often by as much as 25 to 50 basis points.
SRS sold over 510 properties in 2023 with a transaction value of $2.2 billion. Over one third of those transactions were in the Southeast.
SRS STRENGTH in Florida
SRS has had roots in Florida for more than 30 years and our teams have grown over 40% in the last five years.
Fort Lauderdale
200 SW 1st Avenue, Suite 970
Fort Lauderdale, FL 33301
SRSRE.COM/Fort-Lauderdale
Miami
19505 Biscayne Boulevard, Suite 2350
Aventura, FL 33180
SRSRE.COM/Miami
Orlando
200 S Orange Avenue, Suite 1300 Orlando, FL 32801
SRSRE.COM/Orlando
Tampa
1501 W. Cleveland Street, Suite 300
Tampa, FL 33606
SRSRE.COM/Tampa
FLORIDA recent SRS activity
Tenant Services
Owner Services
Orlando
• Formosa Gardens
Formosa Developers, Developer/Owner
• Daytona - Parcels on LPGA Blvd
Joyce Hines, Individual Investor
Tampa
• Shops at Centennial Park
Sanford P. Aron, Developer/Owner
• Publix & Walmart Shadow Retail Pads in Seffner
GHS MLK 11, Developer/Owner
• Shops at Stelling
Bastin Joseph, Individual Investor
Fort Lauderdale
• Soleste Hollywood Boulevard
The Estate Companies, Developer/Owner
Miami
• Link Logistics
Capital Markets
Our tenant, owner, and capital markets teams work together daily to provide our clients with the most up-to-date valuable market intelligence. Our finger is on the pulse of retail in Florida.
John Fahey
