That’s referring especially to commercial spaces.
Our Commercial Real Estate Forum played to a packed room at Indian River State College. Local, regional and state experts in real estate, economic development, economics and the marine industry provided attendees with invaluable insights into the strengths, challenges and trends affecting the area and creating exciting opportunities throughout Martin County.
Commercial space
Amid the demand for office space, Kenneth Krasnow, vice chairman of institutional investor services for Colliers, underscored how the search for high-quality, modern and well-positioned assets is attracting top-level—or Class A—tenants to the area. This trend is advancing even as employers navigate the persistence of hybrid work patterns, which is not only remaking office dynamics but promoting widespread assessments on how best to reimagine existing commercial spaces for increased efficiency.
Location
Cathy Chambers, economic development director for FPL, cited the mass migration of commercial opportunities to the southern regions of the country post-pandemic. Prior to 2020, the total commercial activity nationwide comprised 20 million square feet. It’s since ballooned to 60 million.
“A lot of that activity,” says Chambers, “is taking place in the Southeast US.”
When it comes to overall location, we all appreciate Martin County for its comfortable distance yet convenient proximity to large metro areas such as Orlando and Miami. It’s also ideal for commerce and foreign direct investment, said Z. Joe Kulenovic, vice president of international operations for Enterprise Florida.
“You’re close enough to the larger South Florida market,” he says, “but not so close that you have its higher prices.”
Career opportunities
It was exciting to hear from Doug West of Willis Custom Yachts. The Business Development Board was privileged to play a part in supporting the company’s successful expansion request. Martin County Commissioners recently unanimously approved its plans to expand by 180,000 square feet.
An amazing operation, Willis Custom Yachts has expanded its workforce by nearly 50 percent since 2021 and seeks to increase its 145-person staff by another 50 percent. With 65 percent of its business dedicated to service and the remaining to construction new custom yachts, that’s a lot of great career opportunities for dedicated professionals and skilled craftsmen.
With so many partners—including our chambers, Economic Council, nonprofits and more joining the BDB in prioritizing talent development—we’re poised to grow this workforce locally.
Climate
We all love the local weather, especially this time of year. But there’s another climate in Martin County that’s inviting—the business climate. West—a veteran of the marine industry who’s worked in multiple municipalities and counties—praised the professionalism of Martin County’s staff and elected officials for its analysis and review of their expansion plans.
“I can tell you that Martin County was the best to go through the approval process,” he says. “It’s a great place to do business.”
Prime location. Competitive and quality commercial spaces. Burgeoning talent pool. And a great business climate. It’s true—Now’s the Time to Make Business Moves in Martin County.
For to review full presentations: https://bdbmc.org/news-alerts/2023-mc-cre-forum-delivers-on-insights-and-networking/
This article can also be found in the February 12, 2023 Friends and Neighbors of Martin County Newsletter.
