Brevard County has a strong workforce that’s continuing in growth, which creates many new commercial property opportunities for investors. As of July 2019, Florida’s employment reached more than 10 million with an unemployment rate dropping to 3.3 percent. Many growth analysts anticipate a boost to the Space Coast economy due to the merger between Harris Corp. and L3 Technologies Inc, since the combined company announced plans to expand its Brevard County workforce.
What Properties Does Brevard County’s Growing Workforce Need?
As Florida’s Space Coast continues to experience commercial growth, it’s important to work with a local broker who will help you identify the right investments. Brevard County needs a variety of commercial properties for various business opportunities as well as new innovative designs. While some existing buildings are in the perfect location and are worth the financial investment to update, others are not. Conversely, property investments in less established, new upcoming areas will serve a different intended customer when developed.
Commercial Property Opportunities
With the Brevard County workforce on track to expand over the next several months, the demand for more commercial spaces and buildings has the potential to create competitive pricing across all industries. Commercial properties include investment properties such as office space, apartment buildings, hotels, shopping centers, and restaurants. A growing workforce creates more opportunities to expand your commercial property investments in Brevard County.
One important factor to consider when looking to invest in a community is stability and another is growth. Economic development varies in different parts of the county however in Brevard County Florida workforce growth reports show consist gains. Recent reports show that between 2015-2018 the Space Coast is outpaced state and national numbers creating jobs. About 23% of which were in the manufacturing sector. EDC President and CEO Lynda Weatherman said “The continued strength and diversity of the Space Coast’s manufacturing sector bodes well for the future of the community and long-term durability of our economy.” we agree.
Innovative Cleantech Properties
Brevard County is home to technological advances in biofuel, power generator systems, and solar technology companies; as well as innovative designs for commercial spaces. A popular trend for developing properties is the incorporation of cleantech design.
Cleantech refers to any energy technology that is more efficient and cleaner than other types of energy. Many properties incorporate plant life into office spaces and building designs as a natural way to clean the air. Other cleantech properties incorporate built-in solar panels. The development of new properties goes hand-in-hand with a thriving workforce.
Ullian Realty has over 50 years of combined experience working with investors to find the right properties for their business. Feel free to contact us to learn more about our process to help your company grow.