Tag: growth

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The Urban Shift: What Florida’s Booming Downtowns Mean for Commercial Real Estate

South Florida’s urban cores—Miami, Fort Lauderdale, and Delray Beach—are in the midst of a commercial and cultural transformation. No longer defined solely by tourism or beachfront living, these city centers are evolving into economic powerhouses that attract business, talent, and capital. At Cohen Commercial, we help clients navigate this shift with insight, strategy, and regional expertise rooted in the realities of South Florida’s dynamic markets.

Miami: Skyrocketing Growth & Global Positioning

Downtown Miami has emerged as one of the nation’s fastest-growing urban hubs. In 2024 alone, more than 11,300 residential units were initiated—surpassing 2023 figures and reinforcing the city’s continued upward trajectory. Over half of all new residential construction in Florida is now happening in downtown Miami, and most of it is luxury-focused.

This boom isn’t limited to housing. Miami is rapidly becoming a global business capital, drawing in corporate headquarters, financial firms, and high-net-worth individuals from across the U.S. and Latin America. In 2023, exports from the Miami region reached nearly $140 billion, as Brickell and nearby districts gained traction as headquarters locations for multinational companies.

Transit-oriented developments like MiamiCentral—which integrates Brightline and Tri-Rail connectivity with residential, retail, and office space—are helping to reshape how people live and work downtown. With direct access to both regional and intercity transportation, properties near these nodes are seeing major value appreciation.

Fort Lauderdale: Stabilizing for Long-Term Strength

Downtown Fort Lauderdale, once on a rapid construction sprint, is now entering a more stable phase of growth. While development activity has cooled compared to previous years, this deceleration provides space for strategic reevaluation and improved urban planning.

Major transit infrastructure investments—most notably the PREMO Light Rail project, part of Broward County’s $4.4 billion mobility initiative—are set to boost connectivity between downtown, the airport, and Port Everglades by the end of the decade. This future-forward approach to infrastructure is expected to enhance downtown’s appeal and unlock new development potential along the planned transit corridor.

Delray Beach: Smart Growth Through Mixed-Use Vision

Delray Beach continues to thrive by balancing charm with innovation. The Atlantic Crossing development—slated for completion in 2025—is a defining project for the downtown area. It spans 9.2 acres and includes a vibrant mix of office, residential, retail, and structured parking, all integrated within the walkable heart of the city.

Unlike the high-density push seen in Miami, Delray is taking a more curated approach. Downtown continues to attract a steady stream of foot traffic, entrepreneurs, and residents drawn to its human-scale development and small-business-friendly environment. This measured strategy positions Delray Beach as one of South Florida’s most attractive emerging commercial destinations.

Key Drivers Behind South Florida’s Urban Shift

Several major forces are shaping the evolution of South Florida’s downtown real estate landscape. Transit-oriented development continues to be a major catalyst for growth, particularly around Brightline stations in Miami, Fort Lauderdale, and Boca Raton. These areas have seen significant appreciation—home sales near Miami’s station, for example, rose 32%, while property values surged 131% since 2018. At the same time, Miami’s construction boom remains heavily weighted toward luxury residential inventory, shifting the downtown demographic and creating ripple effects across retail, hospitality, and office sectors. Meanwhile, Fort Lauderdale is embracing a more measured development pace, focusing on aligning future growth with infrastructure investments like the PREMO Light Rail initiative. Together, these trends reflect a region in transition—one that rewards thoughtful, localized strategy.

How Cohen Commercial Delivers Value

Cohen Commercial brings unmatched insight into South Florida’s most complex and competitive real estate environments. Whether it’s supporting lease-up strategies in Delray Beach, structuring transit-oriented investments in Miami, or helping businesses secure strategic downtown locations in Fort Lauderdale, we deliver tailored, informed solutions.

South Florida’s downtowns are no longer just growing—they’re evolving. Understanding how to succeed in these environments means understanding how infrastructure, population movement, and business incentives intersect. That’s where we come in.

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How We Use Buildout to Broker Like a Boss

At Cohen Commercial, we don’t just facilitate transactions—we position properties, build brand value, and broker with intention. In a competitive commercial real estate landscape, speed and consistency matter just as much as the deal itself. That’s where Buildout comes in. It’s more than just a marketing platform—it’s a toolkit that allows us to deliver excellence, stay organized, and present listings in a way that reflects our brand’s caliber. From listing presentations to offering memorandums, Buildout helps us operate with precision and professionalism.

Custom Templates Create Consistency

From the first impression to the final document, consistency is everything. Buildout lets us take default templates and refine them to reflect the exact voice and style of Cohen Commercial. Our cover pages, internal layouts, and data presentations have all been carefully adapted to match our brand standards. This isn’t just about looking good—it’s about building trust. Clients expect a polished experience, and with our templates customized through Showcase+, every single asset we produce reinforces the value and professionalism they can expect from us.

Streamlined Marketing from Listing to Close

Buildout doesn’t just help us create documents—it powers our full marketing engine. As soon as a listing is live, we can generate a fully branded website and deploy targeted email campaigns directly through the platform. There’s no need to juggle multiple tools or designers. Buildout helps us move faster, maintain quality, and keep everything centralized. And when it’s time to share materials with potential buyers or brokers, we can control access at multiple levels, ensuring the right people see the right documents at the right time. That seamless experience helps us move from lead to close with efficiency—and confidence.

A Platform That Tells a Better Story

In commercial real estate, storytelling matters. Buildout enables us to tell compelling, visually rich stories with every listing. Through customized maps, multimedia integrations like aerial drone footage or virtual tours, and on-brand design, our materials don’t just inform—they persuade. Whether it’s an institutional investor reviewing an offering memorandum or a local tenant looking at a property website, the message is clear: we are professionals who know the market, and we know how to position properties to win.

Why We Broker Like Bosses

Buildout gives us the tools to do what we do best—faster, smarter, and with more impact. Our team spends less time formatting and more time closing. Clients get high-quality materials that inspire confidence. And our brand stays strong and consistent, no matter how many listings we’re managing. Buildout doesn’t just support our workflow—it elevates our entire brokerage strategy.

At Cohen Commercial, brokering like a boss means being efficient, consistent, and bold in presentation. Thanks to Buildout, we do all of that—and more—every single day.

https://www.buildout.com/blog-posts/beyond-basic-elevate-your-brand-with-showcase-customization-tools

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How Festivals Like the Cajun Crawfish & Music Festival Fuel Commercial Real Estate in Jupiter

On April 5–6, the sounds of Zydeco music and the aroma of authentic Louisiana cuisine filled the air at the Cajun Crawfish & Music Festival, hosted at the Abacoa Town Center Amphitheater in Jupiter, Florida. While the event may be known for its lively entertainment and family-friendly fun, there’s another layer worth noting—its impact on local commercial real estate.

At Cohen Commercial, we pay close attention to events like these. They’re more than just great community gatherings—they’re powerful economic drivers that demonstrate the value of thoughtfully planned retail and mixed-use developments.

Abacoa: A Blueprint for Mixed-Use Success

Abacoa is a perfect example of what happens when real estate development is done right. This master-planned community features a mix of residential, retail, dining, office, and entertainment spaces—all centered around a pedestrian-friendly layout. The Abacoa Amphitheater serves as a central hub, drawing visitors from across Palm Beach County and beyond.

When an event like the Cajun Crawfish & Music Festival takes place, it doesn’t just entertain—it activates the entire surrounding area. Local restaurants and retailers benefit from the increased foot traffic, while nearby office spaces and service-based businesses gain exposure to new clientele. Hotels, parking lots, and even temporary vendor spaces also see a bump in demand.

This kind of energy reinforces the importance of developing commercial real estate that prioritizes accessibility, walkability, and community engagement.

Events as Economic Engines

Festivals like this one offer a glimpse into the future of retail and hospitality leasing. In a time when brick-and-mortar retail is continually evolving, the key to long-term success often lies in experiential destinations—places where people want to spend time, not just money.

From a commercial real estate perspective, events are more than fun—they’re a measurable way to boost economic activity. They help local businesses thrive, encourage repeat visitation, and increase demand for well-positioned commercial space.

It’s also an excellent selling point for prospective tenants. Restaurants and retailers are more likely to lease in locations where traffic is consistent, and where the community plays an active role in supporting local business. The Abacoa area, thanks to events like this, continues to be one of those locations.

Why CRE Professionals Should Be Paying Attention

At Cohen Commercial, we understand the symbiotic relationship between community programming and real estate performance. Whether it’s leasing retail space, planning a redevelopment, or analyzing market trends, we look at the full picture—and events are a key part of that.

As Jupiter grows and evolves, we anticipate continued demand for commercial spaces that offer more than square footage. Community, culture, and connectivity are the new cornerstones of successful development.

If you’re an investor, business owner, or tenant exploring opportunities in the Jupiter area or elsewhere in Palm Beach County, we’re here to help you navigate that growth.

Original article source: Palm Beach Post. “The Cajun Crawfish & Music Festival returns to Jupiter this weekend.” Published April 2, 2025. Read the full article here.

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An Historic Waterfront Gem Reimagined: The Buccaneer Returns to Singer Island

A Landmark Revival with Commercial Real Estate Impact

The recent grand reopening of the Buccaneer Waterfront Bar & Grill on Singer Island marks more than the return of a beloved local restaurant — it’s a key development in the commercial real estate revitalization of Palm Beach County. Closed since 2020, the Buccaneer has been completely reimagined under the ownership of Sharfi Holdings Inc., which purchased the property in 2021. Their investment reflects a growing trend: restoring iconic spaces to bring both historic value and economic vitality back to the community.

Strategic Location: Real Estate Worth Reviving

Situated on the Intracoastal Waterway at 383 Blue Heron Blvd, this site has long held prime value thanks to its waterfront access and location just before the bridge to the beach. The Buccaneer’s transformation taps into the increasing demand for experiential dining in high-traffic tourist and local hotspots. From a real estate standpoint, the property’s revival enhances the surrounding area’s appeal — boosting not only tourism but also increasing the value of neighboring commercial and mixed-use properties.

Preserving History, Creating Value

Sharfi Holdings’ approach blended preservation with modernization. Signature elements of the original 1960s Buccaneer, like the tropical underwater mural and handcrafted wooden bar, have been thoughtfully restored, adding nostalgic charm to the updated space. This kind of mindful redevelopment is a hallmark of successful commercial real estate strategies — honoring the past while appealing to modern tastes, resulting in a differentiated and highly marketable asset.

Star Power: A Culinary Anchor Tenant

A standout feature of the Buccaneer’s rebirth is the hiring of Chef Paul Niedermann, winner of Season 9 of Hell’s Kitchen. His culinary influence not only elevates the guest experience but also serves as a commercial draw, increasing the destination’s viability and visibility. Just as anchor tenants can drive traffic in retail centers, a notable chef can anchor a restaurant’s appeal and drive foot traffic in hospitality-driven properties.

Community Impact and Economic Revitalization

The restaurant’s reopening is already stimulating local economic activity by generating jobs, increasing visitor numbers, and bringing renewed energy to Singer Island. Projects like this demonstrate how hospitality ventures contribute to larger commercial development goals — supporting local employment, encouraging further investment, and enhancing quality of life in the surrounding community.

A Case Study in Smart Redevelopment

From a commercial real estate lens, the Buccaneer is a strong example of adaptive reuse and strategic reinvestment. It shows how historic properties, when revitalized with care and purpose, can become vibrant economic drivers. As Palm Beach County continues to evolve, developments like this will play a critical role in shaping the future of its real estate and hospitality landscape.

Source:
 Adapted from the original article by Liz Balmaseda in the Palm Beach Post titled “Palm Beach County restaurant resurrected with menu by ‘Hell’s Kitchen’ chef” (March 20, 2025).

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Palm Beach’s Sole Gas Station Sells for $11.94M — A Testament to High-Value Commercial Real Estate

In the world of commercial real estate, location and uniqueness often drive value — and there’s no better example than the recent $11.94 million sale of Gray’s Sunoco, the only gas station on the island of Palm Beach. This record-setting transaction reflects the scarcity and desirability of commercial properties in affluent markets.

A One-of-a-Kind Commercial Asset

Situated at 340 S. County Road, near Palm Beach Town Hall, Gray’s Sunoco has long been more than just a gas station. With its full-service pumps and ability to service high-end vehicles like Rolls-Royces and Ferraris, it serves as both a community staple and a critical service point in times of need — particularly during hurricane season when fuel supplies run low.

The property, which includes four service bays and a small convenience store, sits on just four-tenths of an acre. Yet, its small footprint didn’t stop it from commanding a premium price — a hallmark of high-value commercial real estate in exclusive markets.

From $2.6M to $11.94M in Two Decades

The seller, Peter Berley, acquired the property in 2005 for $2.6 million. After 20 years of ownership, the recent sale represents a nearly fivefold increase in value, reflecting Palm Beach’s booming real estate market and the rising importance of essential-use properties.

The buyer, Alexander Hufty Griswold, is a well-known Palm Beach real estate investor with deep family roots in the area. Through a Delaware-registered LLC linked to his Armata Holdings Management Corp., Griswold secured the property with the intention of maintaining its current use.

Why This Sale Matters

This transaction highlights several key trends in commercial real estate:

• Scarcity Drives Value: As the only gas station in Palm Beach, Gray’s Sunoco offers a rare, irreplaceable service. In markets where land is limited and zoning is strict, unique commercial assets often appreciate faster than traditional properties.

• Community-Centric Investments: Griswold’s commitment to preserving the property as a gas station reflects a growing emphasis on investing with community impact in mind. Essential-use properties that serve local needs can maintain stable demand regardless of market cycles.

• Historical and Emotional Value: The station’s history dates back to the early 20th century, adding sentimental value to its already prime location. Properties with a legacy often command higher prices due to their cultural and historical significance.

What This Means for Commercial Real Estate Investors

The $11.94 million sale is a reminder that not all commercial real estate is created equal. In exclusive markets like Palm Beach, properties that blend necessity, scarcity, and history can achieve exceptional valuations. Investors seeking long-term appreciation should consider essential-use properties in high-demand areas where competition is low but impact is high.

As Palm Beach continues to evolve, the preservation of landmarks like Gray’s Sunoco demonstrates that commercial real estate is about more than just transactions — it’s about sustaining the fabric of the community.

At Cohen Commercial, we understand the value of unique commercial assets. Whether you’re buying, selling, or investing, we’re here to help you navigate the market with confidence.

Cited Source: Palm Beach Daily News, “Palm Beach’s Sole Gas Station, Which Offers Full-Service Pumps, Sells for $11.94M” by Darrell Hofheinz, March 20, 2025.

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Rapids Waterpark: A Spring Break Attraction Boosting Riviera Beach’s Appeal

As spring break approaches, one of Palm Beach County’s most popular attractions, Rapids Waterpark, is set to open its doors once again. Located in Riviera Beach, this long-standing entertainment destination not only provides seasonal excitement but also plays a role in enhancing the area’s economic and real estate landscape.

A Key Player in Local Tourism and Business

With over 40 water attractions, Rapids Waterpark draws visitors from across South Florida and beyond, contributing to the steady influx of tourists in Riviera Beach. This seasonal surge benefits nearby businesses, including hotels, restaurants, and retail centers, making the area increasingly attractive to investors and commercial real estate developers.

For property owners and businesses in the region, the park’s annual reopening signals an uptick in consumer traffic, reinforcing Riviera Beach’s status as a destination for leisure and hospitality. The consistent draw of visitors has helped sustain surrounding commercial developments, supporting growth in the retail and service industries.

Commercial Real Estate Implications

The presence of a major entertainment hub like Rapids Waterpark underscores the potential for continued commercial expansion. Properties in proximity to high-traffic attractions tend to experience increased visibility and desirability, making them prime opportunities for investment. Retail spaces, quick-service dining establishments, and mixed-use developments stand to benefit from the area’s seasonal and year-round appeal.

As Riviera Beach continues to evolve, attractions such as Rapids Waterpark highlight the synergy between tourism and real estate, demonstrating how commercial growth follows consumer demand. Whether through new hospitality projects, retail expansions, or office spaces catering to the growing workforce, the area remains an active market for commercial real estate opportunities.

For more insights into commercial real estate trends and investment opportunities in South Florida, contact Cohen Commercial.

Original article: Rapids Waterpark in Riviera Beach to open for March’s spring break

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Philly Pretzel Factory Expands to Central Florida

Philly Pretzel Factory Expands to Central Florida

Philly Pretzel Factory, the nation’s largest Philly-style pretzel brand, is making its way to Central Florida! Thanks to a new strategic partnership with veteran business leader Derek Lewis, Orlando-area residents will soon get to experience the authentic taste of Philadelphia’s most iconic snack.

This exciting expansion marks a major milestone for Philly Pretzel Factory as it continues its national growth strategy. In addition to opening new Philly Pretzel Factory stores, Lewis’s Big Dave’s Cheesesteaks locations will also begin serving Philly Pretzel Factory’s signature soft pretzels.

The soft pretzel market is seeing consistent growth as more consumers seek out convenient, innovative snacks. Philly Pretzel Factory’s commitment to traditional recipes and fresh ingredients has made it a standout brand that appeals to snack lovers of all ages.

The first traditional Philly Pretzel Factory locations in Central Florida are expected to open later this year, with potential non-traditional locations possibly arriving even sooner. Stay tuned for updates and get ready to enjoy a true taste of Philly, right here in Florida!

Source: QSR Magazine. “Philly Pretzel Factory Signs Deal to Open in Central Florida.” Published March 7, 2024. Read more.

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The Cognizant Classic: Driving Economic Growth in Palm Beach County

Palm Beach County is no stranger to high-profile events, but few deliver the lasting economic impact of the Cognizant Classic in The Palm Beaches. Held annually at the prestigious PGA National Resort, this star-studded PGA Tour event has become a major economic engine for the region, drawing visitors from around the world and boosting the local economy in meaningful ways.

A $40 Million Economic Boost

In 2023, the Cognizant Classic welcomed more than 200,000 attendees, generating over $40 million in direct economic impact. This influx of visitors filled more than 11,000 hotel room nights, driving business to local hotels, restaurants, retailers, and attractions. As Palm Beach County continues to grow as an international golf destination, the tournament not only showcases the area’s hospitality but also strengthens its reputation as Florida’s Golf Capital.

With national television coverage and appearances from top golf talent including Rory McIlroy, Rickie Fowler, Shane Lowry, Matt Fitzpatrick, and Justin Rose, the Cognizant Classic amplifies Palm Beach County’s global visibility. The 2025 tournament, held from February 29 to March 3, once again highlighted the region to millions of viewers, enhancing its profile as a premier destination for world-class sports, travel, and leisure.

Since its inception in 1982, the tournament has also raised nearly $69 million for over 100 non-profits, including the Nicklaus Children’s Health Care Foundation. Beyond the competition, the event offers a week of memorable experiences, from family-friendly activities like Midas Family Day and autograph sessions, to premium viewing spots such as The Champagne Lounge and The Palm Beaches Cabana. These activations ensure that every visitor — whether a die-hard golf fan or a casual spectator — finds something to enjoy while contributing to the local economy.

Looking Ahead

As one of Palm Beach County’s largest sporting events, the Cognizant Classic remains vital to the region’s tourism success. With its combination of world-class golf, community engagement, and undeniable economic impact, the tournament continues to be a shining example of how sports can drive growth, enhance global recognition, and benefit local businesses for years to come.

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Westlake’s Commercial Growth: Walmart and Lowe’s Signal Market Maturity

The city of Westlake, Palm Beach County’s newest municipality, is attracting major national retailers, with Walmart and Lowe’s set to present development plans for new locations along its commercial corridor. This expansion underscores the increasing demand for retail infrastructure driven by rapid residential growth in the western suburbs.

Westlake, developed by Minto Communities, has seen significant housing expansion, with over 3,300 residential permits issued since 2017. The area has capacity for 6,500 homes and 2.2 million square feet of commercial development. This rising population density makes it a prime target for retailers seeking to capitalize on growing consumer demand.

Strategically located on Seminole Pratt Whitney Road, the proposed Walmart and Lowe’s would be the westernmost locations for both chains in Palm Beach County. Walmart’s inclusion of fuel pumps suggests a competitive positioning against retailers like Costco. These additions are expected to serve not only Westlake but also neighboring communities such as Loxahatchee and Belle Glade.

Commercial real estate experts note that retailers follow population growth, and Westlake’s trajectory mirrors trends seen in other suburban expansions. The introduction of these big-box anchors is likely to attract additional retailers, restaurants, and service providers, enhancing the city’s economic ecosystem.

With national brands like Publix, Starbucks, and Planet Fitness already establishing a presence, Walmart and Lowe’s further solidify Westlake’s emergence as a key retail destination. Their presence is expected to boost property values, generate jobs, and support small business growth, transforming Westlake from a residential hub into a fully integrated live-work-play community.

City officials anticipate council approvals by early 2025, marking a significant milestone in Westlake’s commercial development.

Sources:

https://www.palmbeachpost.com/story/news/local/wellington/2024/12/06/walmart-lowes-may-bring-big-box-stores-to-westlake-florida-city-manager-says/76597813007/

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Upland Park: Miami-Dade’s $1B Transit-Driven Landmark

A new sight is coming to South Florida. Terra Development will be starting its new development of Upland Park after securing a $170 million construction loan from Slate Property Group for phase 1. The $1 Billion project is set to begin in early 2025, with a formal groundbreaking ceremony. This will mark the start of Miami-Dade County’s largest public-private transit-orientated project in history.

Dual Purpose

The project is set to feature both residential and commercial spaces with phase 1 consisting of 578 apartments. Terra has partnered with PPK Architects, Arquitectonica and Plusurbia Design in order to create 2,000 garden-style and mid-rise apartments. In addition, the project’s 47 acres will also feature 282,000 square feet of retail space and 414,000 square feet of other commercial space.

Why Upland Park

Upland Park was created in order to support Miami-Dade County’s SMART plan. The SMART plan is a large-scale initiative with the purpose of expanding the public transit system to increase the connection within the county. Upland Park will be placed strategically in the East-West Corridor promoting its public transportation by offering a center for housing, retail and commercial spaces. The county hopes to fight its problem of traffic congestion and limit private vehicles. In addition, Upland Park is expected to create thousands of jobs and generate tremendous amounts of revenue.

Upland’s Future

Phase 1 of the project is expected to be completed by the second quarter of 2025, with the construction of residential area. With the timeline of phase 2 undeclared, it can be expected that the Upland Project will not be completed for the next few years.

Sources:

rebusinessonline.com/terra-obtains-170m-construction-loan-for-first-phase-of-1b-upland-park-mixed-use-project-in-south-florida/

www.terragroup.com/property/upland-park/

www.multihousingnews.com/terra-lands-construction-loan-for-1b-miami-project/