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Marcus & Millichap MarketWatch
North/Central Florida
Below is an example of our popular "MarketWatch" reports, which we have for 37 markets
across the US. The MarketWatch includes news stories which are relevant to real
estate investors in local and regional markets. This example is from the North/Central Florida
version, if you would like one from another location, please
email us and we will put you on our list for your preferred markets.
Florida, Miami jobless rates hold steady
Miami Herald
September 18, 2009
Florida's unemployment rate was 10.7 percent in August, essentially unchanged from a revised 10.8 percent in July, the state labor department said Friday.
Travelers Put Loyalty to Test With Reward Programs
USA Today
September 14, 2009
In the past two years, there has been a 31 percent drop in active participation in frequent-flier, hotel points and other travel rewards programs as the economy has soured the last two years.
Drilling Threatens State’s Economic Base
Editorial
Daytona Beach News-Journal
September 14, 2009
Columnist mulls the potential effects of lifting the ban on drilling in the Gulf of Mexico.
Bidding Wars for Houses a Sign of Recovery?
Sarasota Herald-Tribune
September 13, 2009
Realtors in Southwest Florida see signs that the region’s residential market may be finding its footing.
Blockbuster Closing 960 Stores By End of 2010
Lakeland Ledger/Associated Press
September 15, 2009
Struggling chain seeks so trim dead weight to better compete with Netflix and Redbox.
GOP Asks Tampa to Bid on 2012
St. Pete Times
September 14, 2009
With a successful bid, city will host Republican National Convention; would be boon for local hotels during the typically slow summer season.
Retailer Slates Five New Stores
St. Pete Times
September 14, 2009
HHGregg to takeover spaces vacated by Circuit City and Linens ‘n Things.
Convention Center Puts Faith in New Hilton
Orlando Sentinel
September 12, 2009
The new Hilton Orlando brings 1,400 rooms within walking distance of the Orange County Convention Center.
“Redevelopment” Designation Turned Down
Orlando Sentinel
September 16, 2009
Lake County officials nix a precedent-setting redevelopment designation for the Mount Plymouth-Sorrento area.
Downtown projects receive awards
Orlando Business Journal
September 16, 2009
The Orlando Downtown Development Board has received two Awards of Distinction from the International Downtown Association for The Paramount At Lake Eola and The Plaza projects.
Hotel occupancy drops 6 percent
Orlando Business Journal
September 14, 2009
Orlando hotels fell short when compared with nationwide averages for the week of Aug. 30-Sept. 5. Average occupancy rates in local hotels dipped to 39.9 percent for that week, a six percent drop from the year-ago period, said Smith Travel Research, a hospitality industry research tracker. That compares to a 53.4 percent average nationwide hotel occupancy rate for the week, down 1.4 percent from a year ago.
Theme Park Expansions Will Help Hotels
Globe Street September 16, 2009
Planned expansions at Walt Disney World and Universal Orlando theme parks should benefit area hotels for years to come, a local industry executive says. The anticipated result of longer stays by millions of tourists equate to additional room nights, occupancy and revenue.
Still a Development Deadlock at Sawgrass Village
Florida Times-Union
September 16, 2009
Redevelopment of Ponte Vedra Beach’s oldest and most centrally located shopping center up in the air months after proposal submitted.
Reuse Project to Be Built Near The Avenues
Florida Times-Union
September 12, 2009
Vacant Toys R Us to become Latitude 30, a retail and entertainment property.
Crist, Cabinet Turn Down 800-Home Community
St. Pete Times
September 15, 2009
Project near Ocala nixed. The development was seen as a test case for larger projects proposed throughout the state that are seeking to avoid justifying their development.
Disney to Get Massive Overhaul
Orlando Sentinel
September 12, 2009
Disney's Fantasyland expansion could team with Universal's Wizarding World in helping reignite overall travel to Orlando, one expert claims.
Acquisition Capital for Commercial Properties Emerging
Orlando Sentinel
September 14, 2009
Commercial markets in the state appear to be stabilizing, with increased prospects for acquisition capital, according to a study by the University of Florida. Also: other real estate news.
RTC Sequel May Be in Hotels’ Future
Globe Street September 11, 2009 A revival of the Resolution Trust Corp. concept may be necessary to get hotel transactions flowing again, panelists said this week at a hotel conference in New York. Read more.
More Distress Ahead for Hotel CMBS
Globe Street September 10, 2009 A recent study found that 11.2 percent of outstanding lodging CMBS has a trailing 12 month (TTM) debt service coverage of less than 1.0x.
Senate Okays $10 Tourist Fee
Miami Herald/Associated Press U.S. Senators voted to charge international travelers a $10 fee to help promote tourism in the United States. Marketing initiative would lead to an additional 1.6 million international travelers coming to the U.S, travel industry sources claim.
Economic Indicators Expected to Slide Further
Orlando Sentinel September 9, 2009 Four of the five components measured in the Central Florida Economic Index are projected to show year-over-year declines this month.
Escambia Looking to Woo Southwest Airlines
Pensacola News Journal September 11, 2009 Pensacola Gulf Coast Regional Airport is competing with the airports in Fort Walton Beach and Panama City for Southwest's low-cost service.
Miami Corp. Land Use Hinges on Volusia, Brevard Okay
Orlando Sentinel September 5, 2009 A prospective development in central Volusia and northern Brevard counties could have as many as 23,000 residences.
North River Village Project Canceled
Naples News September 8, 2009 Some 2,500 residential units were proposed at the development in Bonita Springs. Protracted downturn in Southwest Florida real estate market cited as reason for cancellation.
Change to Polk Commerce Centre Approved
Lakeland Ledger September 9, 2009 The Central Florida Regional Planning Council voted to approve a major change in the Polk Commerce Centre development of regional impact; project covers more than 2,500 acres.
Beige Book: Southeast Stabilized Last Month
Jacksonville Business Journal September 10, 2009 The economy in the southeastern U.S. began to show some signs of stabilization in August, according to the Federal Reserve's Beige Book report.
Publix Applies to Build Larger Store in Tampa Palms
St. Pete Times September 9, 2009 The grocer has applied for permission to add to its existing store at 16041 Tampa Palms Blvd. W.
Foreclosure Drop in Pinellas, Sarasota
Tampa Bay Business Journal September 10, 2009 Foreclosure rates have dropped in Pinellas and Sarasota counties, bucking a national trend of near record-high numbers of homes on the brink of being reclaimed by banks.
Pinellas Urged to Spend More on Affordable Housing
St. Pete Times September 8, 2009 Trust fund to build affordable housing in county is short on cash. People living in more than 45,000 Pinellas households won't be able to afford the home they're in next year, according to the University of Florida
Longtime Developer Pulls Up Stakes
St. Pete Times September 9, 2009 Walter Energy is relocating to Alabama; company employs about 2,100 workers in Tampa.
TECO to Cut Jobs This Month
St. Pete Times September 5, 2009 Utility will slash 225 positions in first significant workforce reduction in six years.
Pinellas Tourism Improves
St. Pete Times September 9, 2009 A new report showed the number of overnight visitors rose 1.1 percent in July from a year earlier, marking the first year-to-year monthly increase since March 2008.
Orlando No. 8 in Foreclosures Last Month
Orlando Business Journal September 10, 2009 The local foreclosure rate in August placed the Orlando-Kissimmee area among the nation’s top 10 metro areas, according to RealtyTrac.
Maitland Company Poised to Land County, State Incentives
Orlando Sentinel September 10, 2009 Deal would enable Digital Risk to expand; firm plans to add 200 jobs.
Nearly 140 Job Cuts Pending
Orlando Sentinel September 10, 2009 An engineering services company has issued layoff notices to 136 workers at its Central Florida Research Park unit.
Talks of Theme Parks Sales Revived
Orlando Sentinel September 9, 2009 Rumors of a potential sale of SeaWorld Orlando owner Busch Entertainment were rekindled by news that potential suitor Merlin Entertainments Group is preparing to go public.
New Owner of Quorum Center Aims to Boost Occupancy
Orlando Sentinel September 7, 2009 The 13-building property was recently bought for $29 million. Also: other commercial real estate news.
Jax Employers Cautious With Hiring Plans
Jacksonville Business Journal September 8, 2009 Only 12 percent of local employers plan to add workers in the fourth quarter, according to the Manpower Employment Outlook Survey.
Publix Construction Signals Start of Nocatee Retail Center
Florida Times-Union September 9, 2009 The future of shopping for residents of Nocatee isn't much to look at right now, despite a planned early 2010 opening date of a new Town Center.
Florida Still No. 2 in Foreclosures
Jacksonville Business Journal September 10, 2009 Florida had the second highest foreclosure rate in the nation behind only Nevada, with one in every 140 homes receiving some sort of foreclosure filing, according to RealtyTrac.
NASA Needs New Direction and $3 Billion More in Funding
Orlando Sentinel September 8, 2009 Special panel says that manned-spaceflight program is on an "unsustainable trajectory." KSC future clouded by uncertainty.
Tampa Rail Plans Coming into Focus
Tampa Tribune September 6, 2009 The latest proposal envisions 40 miles of track, implemented in stages beginning with a downtown Tampa-University of South Florida route by 2018.
Problem CMBS Loans Increase
Globe Street September 4, 2009 According to Fitch Ratings, “loans of concern” rose 7 percent from June to July. Read more.
Is Sunshine State’s Future Getting Cloudy?
Florida Today/USA Today September 1, 2009 Florida isn't attracting retirees at the rate it used to, nor is it drawing young people the way it once did because jobs have dried up. Read more.
Outback Gets a Makeover
St. Pete Times September 3, 2009 Sarasota location a testing ground for the steakhouse chain’s new look. Info on average sales, other operating metrics. Read more.
Publix to Test Large Store Idea
Lakeland Ledger August 29, 2009 A prototype Publix store to open in Naples in 2010 will have a larger design and features from the chain's GreenWise Market concept. Read more.
Vacuum Maker Moving Facility, Jobs to Manatee
Bradenton Herald September 1, 2009 Mustang Vacuum Systems relocating from Sarasota County; firms plans to create 125 jobs. Read more.
Port Adds to its Container Cargo Business
St. Pete Times September 3, 2009 The arrival of Horizon Lines next month adds some heft to the Port of Tampa's growing container cargo business. Read more.
Pinellas Visitor Volume Falls
Tampa Tribune September 2, 2009 Fewer overnight visitors in June, according to a new report. Read more.
HHGregg Hiring 250 for Six Tampa Bay Locations
Tampa Bay Business Journal September 2, 2009 Retailer HHGregg to staff six new appliance and electronic stores planned for the Tampa Bay area. Read more.
Project Will Bring Publix to Shady Hills
St. Pete Times August 31, 2009 Developers reveal plans for Hays Towne Center in Pasco County community. Read more.
Tyrone’s Corner Shopping Center Sold
St. Pete Times August 28, 2009 REIT sells retail property in St. Petersburg for $10.5 million. Read more.
Brio Renews Lease
Orlando Business Journal August 31, 2009 Brio Tuscan Grille restaurant is staying in Winter Park Village for another 10 years. Read more.
July Resort Taxes Down 18%
Orlando Business Journal September 3, 2009 Orange County’s resort tax collections were $10.9 million for July, down 18 percent from a year earlier. Read more.
Lender Gets Downtown Orlando Sheraton
Orlando Sentinel September 3, 2009 The few hoteliers who showed up at the Orange County Courthouse for the auction of the hotel did not submit bids. Read more.
Strip Malls Saved by Churches
Orlando Sentinel August 29, 2009 Churches are now the darlings of shopping-center landlords stuck with empty movie theaters and big-box retail stores. Read more.
Another Building in MetroWest Goes Into Foreclosure
Orlando Sentinel September 2, 2009 Office condos at 7065 Westpointe Blvd. in the Veranda Park project head into foreclosure. Read more.
Beach Condos Back in Play
Florida Times-Union September 1, 2009 The partnership that purchased most of 182 unsold residential units at Ocean's Edge in Jacksonville Beach has pledged to sell them as condominiums. Read more.
Local Stimulus Projects Starting
Florida Times-Union September 1, 2009 Work on Beach Boulevard, Florida A1A to commence soon. Read more.
Problem Loans Continue to Grow at Local Banks
Florida Times-Union August 30, 2009 Number of bad loans help by banks in Northeast Florida increased in Q2, according to regulatory filings. Read more.
Florida’s High Jobless Rate May Last Until 2018
Tampa Tribune September 2, 2009 High unemployment could linger for years, state forecasters predict. Read more.
Push for Offshore Drilling Gathering Momentum
St. Pete Times August 29, 2009 A group of legislators, business groups and Texas oil companies has been laying the groundwork since December to win legislative approval to open Florida waters to oil exploration and end the 20-year drilling moratorium. Read more.
Suspension of Cypress Creek Town Center Permit Lifted
St. Pete Times September 3, 2009 Construction of Cypress Creek Town Center in Pasco County can now move forward after being stymied for 18 months. Read more.
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