Fed’s Powell: Rate Cuts Likely Delayed This Year
If inflation continues, long-anticipated interest rate cuts may not happen this year, the Federal Reserve chair said. Interest rates influence mortgage rates. WASHINGTON — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer […]
Business Rent Tax Reduction Set for June
A cut in the state’s commercial lease sales tax, from 4.5% to 2.0%, will begin on June 1, weeks earlier than originally expected. Business owners will see an earlier-than-anticipated reduction to the state’s lease tax, beginning in June rather than July, state leaders said. Florida’s commercial lease sales tax rate, also known as the Business […]
Getting in the Heads of Industrial Tenants
An excess of supply in some industrial markets has led to more rentable options and more favorable leasing terms for tenants. With new construction starts taking a more than 70 percent dive since early 2022, however, according to a 2023 Savills report, demand is likely to quickly outpace new deliveries. Until then, tenants have their […]
Prologis Expects To Buy, Sell More Industrial Property This Year
Executives at the world’s largest industrial developer and landlord expect to ramp up property sales and acquisitions this year as they bet that almost all its warehouse properties will remain leased and rents will keep rising in the face of economic uncertainty. Prologis anticipates raising $800 million to $1.2 billion from selling properties in 2024 […]
South Florida office market stronger than pre-pandemic years, JLL says
Although there are significantly less lease deals taking place, South Florida’s office market is on a stronger footing than it was prior to the pandemic, a lead broker with JLL said. “We are at about a 20% slower rate of deal flow from last year,” said Steven Hurwitz, managing director and agency lead for JLL’s […]
New Law Reduces Florida’s Sales Tax Rate on Commercial Rent
Effective December 1, 2023, the State of Florida’s sales tax rate on commercial real property lease payments (including base rent and additional rent) will be reduced from 5.5% to 4.5% for payments received for occupancy periods beginning on or after December 1, 2023. Examples of taxable commercial real property rentals include commercial office, retail space, warehouses, and […]
