Florida investors are likely aware that August is normally the slowest month for commercial real estate leases and sales. However, August of this year is different as is the summer so far as a whole. Commercial real estate has seen a strong uptick in business with more activity around the country than during the spring and winter as well as the summer months of prior years.
According to Transwestern, businesses in the San Francisco Bay Area leased 2.4 million square feet during the last 90 days. By comparison, companies leased 700,000 square feet during the first quarter of the year. In New York, July leases and sales were up by 2.2 percent and by 10 percent over the leases and sales in July 2016.