“As with most markets in Florida, the Space Coast saw a drop in transaction volume through 2023 as the market worked through negative rent growth and rising expenses. However, this trend has reversed in the first quarter of the year with rent growth turning positive again and new insurance providers entering the market, alleviating operator stress. Employment, particularly in the area’s tech sector, remains robust and we expect new jobs in the area to increase as major infrastructure projects have entered the planning stage for the port. With these positive trends, we are seeing deal flow accelerate and more aggressive buyers return to the market, a trend we expect will continue for the foreseeable future.”
Vice President, Multifamily Investment Sales
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