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Downtown continued

growth. Most recently, real estate investor and social media substantial demand that is outpacing supply. As we approach
guru Grant Cardone acquired Las Olas Walk, 4 West Las the end of this current market cycle and continue experiencing
Olas and two other Broward properties for a combined $740 post-pandemic recovery in the next few months, residents can
million in a partially crowdfunded deal last year. The anticipate the delivery of new supply and increased
continued financial investment and vested interest in Fort competition to ease and moderate increased pandemic rents,
Lauderdale’s future generations from national entrepreneurs all the while still amplifying the quality of living they expect.
like these serves as a key metric in determining and
The robust demand and low vacancy rates have allowed
generating support for future innovative ventures and
landlords to increase rents to new record highs. However, in the
expansions within the city.
next few months, we should see prices balancing out and
This growth is also occurring in Flagler Village. International moderating as new supply becomes available and competition
developer Hines has partnered with local developers Alan increases. Rest assured, demand will remain solid in our vibrant
Hooper and Tim Petrillo to bring a major mixed-use community. In part due to the northeastern migration trends to
redevelopment to the FAT Village area. Our firm Merrimac the city, reinforced by the exponential quest for quality living
Ventures is currently planning to break ground on our 751 unit apartments from young professionals and baby boomers.
two-tower project 317 Flagler to serve this continued
As Downtown adapts to the growing population with more
population growth.
open, green spaces and multi-use buildings, we expect to see
residents from across South Florida continue to see Downtown
Market Cycle
Fort Lauderdale as a destination of choice.
On the heels of great development comes great demand, and
Downtown Fort Lauderdale is currently undergoing a period of

28 LAS OLAS BOULEVARD & ISLES