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Florida’s I-4 corridor has long been a hot-spot for investors. As a main commercial artery connecting the state’s east and west coasts, the area has served as fertile ground for investors of several asset classes. Now, thanks to explosive job and population growth in several metro areas, the I-4 corridor’s multifamily market has been booming.

I-4 Corridor Multifamily Market Outlook

• The I-4 corridor’s major metro areas are experiencing intense growth
  • Tampa & Orlando
    • Lakeland, Lake Mary/Sanford (Sub-markets)
  • $1.24-$1.26/sf across all asset classes (30% increase in pre-recession rates)
• Rental demand outpacing construction and inventory
  • Vacancies compressing
  • Markets primed for B + C-class rental drivers
• Institutional investor activity increasing

5-Year Forecast

• Expect to stop start seeing decrease in new home starts
• Rental demand not likely to drop-off
• Metro area growth metrics should slow, but due to sustained market demand will maintain an equilibrium state

About Our Guest

This episode, we are honored to have Brian Alford join us to discuss this multifamily market outlook for the I-4 corridor. As a Market Economist for CoStar, Brian specializes in providing on-the-ground analysis for the Central Florida region, including the I-4 corridor’s major metro areas and sub-markets.

Brian brings with him nearly 15 years of experience as a financial analyst having worked with commercial real estate through a variety of asset classes.

If you are interested in getting a more detailed outlook on the I-4 corridor’s multifamily market, or you have additional questions regarding the Central Florida region, fell free to reach out to Brian directly. Additionally, you can find much of Brian’s published content online or by visiting costar.com.