Fort Myers is the country’s fifth hottest commercial real estate metro market, according to the National Association of Realtor’s Commercial Real Estate Metro Market Conditions Index for the first quarter of 2022. It ranked only behind four other Florida markets – Orlando, Miami, Palm Beach and Fort Lauderdale. The Fort Myers metro area’s economic and commercial market posted an index of 72, with wages growing faster at 12% compared to 4.7% nationally, and multifamily asking rents are up 29.6% compared to 11.4% nationally, the report states. The area’s office vacancy rate is a low 4.7% compared to 12.2% nationally. The industrial vacancy rate is at 2.4% compared to 4.1% nationally, with industrial rents up 11.5%, and the retail vacancy rate is at 3.7% compared to 4.5% nationally.
A crowd of 100 celebrated alongside Dubz BBQ owner George Dubbaneh on Nov. 30 for the grand reopening of the...Read more