Some Good News About the Jacksonville Apartment Market

GlobeSt.com - Commercial Real Estate News and Property Resource reported on February 7, 2014 that the leading National story for January addressed the question: “Which markets will experience an apartment glut in 2014?” The story, citing research from Jones Lang LaSalle (JLL), finds 14 cities that would not be affected by oversupply, and predicts the regions most likely to experience growth in the upcoming year.

“Besides construction levels, it’s all about job growth and household growth—those are the two critical demand factors that will determine how metros will perform through the current development cycle,” says Jubeen Vaghefi in the piece. Vaghefi is the international director and leader of JLL’s Multifamily Capital Markets group. Jacksonville is one of the 14 cities JLL expects to shine into 2017.

To read the article, see “Oversupply Not an Option In These Markets.” My take on the Jacksonville apartment market for 2014, which concurs with the JLL outlook, was laid out in my previous blog posting, “Will Jacksonville Apartment Property 2014 Operating Performance Beat the Bar Set in 2013?”

If you would like to discuss these thoughts in more detail, please contact me:

            Paul B. Hazlett
            Multifamily Investment Advisor
            Coldwell Banker Commercial - Benchmark
            904.421.8523
            PHazlett@CBCBenchmark.com