Capital Markets Florida Team

OUR TEAM... Capital Markets Florida - 2023 Recap WHY

WELCOME TO THE CENTER OF WHAT’S NEXT

Happy New Year! As we head into 2024, we are grateful to say we had a relatively productive year despite an extremely challenging capital markets environment that brought substantial volatility. The 10-Year Treasury finished the year at 3.88%, essentially at the same levels where it started, but the journey was an unpredictable one, with yields falling into the low 3’s in April before rapidly rising nearly 100 basis points in the August to October time frame, peaking in the 5% range, only to reverse as we headed to a close in 2023. This dramatic upward movement in yields created uncertainty and caused investors and lenders to reevaluate appropriate yields and valuations and discussions of “higher for longer” started to dictate investor sentiment. Most notably, the availability and cost

of debt was impactful to pricing and transaction activity. The recent drop in treasury yields through year-end has created conditions for more favorable investor outlook, but our team view is that a sustained period of lower volatility in interest rates is required for transaction activity to increase substantially during 2024. However, despite potential turbulence in the broader capital markets, we remain confident in the Florida growth story as we continue to benefit from massive in-migration of jobs and remains a market of choice for inbound investment capital due to its strong fundamentals and projected growth going forward. We are pleased to present our Florida Capital Markets 2023 Recap, which highlights many of our closings this year, the relevant metrics, current market fundamentals, and offers a snapshot of a few deals coming to market in early 2024. Thank you to all of our clients who helped C&W maintain its #1 statewide market share position during 2023.

UNRIVALED RESUME $ 268.3M+ Under Contact $ 107.0M+ ON THE MARKET

IN 2023 WE CLOSED APPROXIMATELY $ 1.0B In Sales and Financings

2 | FLORIDA OFFICE & INDUSTRIAL