Spring Break is here, and with Florida being home of the Spring Break capital of the U.S., it is the perfect time to look at commercial construction in the Sunshine State. Earlier this week, our review of residential construction in Florida showed the state on the upswing since January. Taking a look at commercial construction last month, there were nearly 330 commercial starts and more than 1,000 alterations (including renovations and additions). With a new commercial construction value in excess of $1.2 billion and $460M in alterations in February, Florida had various counties seeing the bulk of commercial construction activity for the month.
New Commercial Construction
Using HBW construction data reports, we were able to customize our search for the highest concentration of new commercial construction leads throughout Florida. In February, Miami-Dade County of South Florida held the #1 spot for highest new commercial construction value ($318.5M), while Orange County (Orlando) was #1 for total commercial starts (44 permits). When looking at alterations and renovations, the leaders switched as Miami-Dade led for total permits (122), and Orange County led for total value ($77.5M) for the month.
Miami-Dade and Orange County were not the only areas with new commercial starts on file for February. The area with the second highest total for commercial starts was Hillsborough County (Tampa) with 27 starts and nearly $168.6 million in total construction value. South Florida held the third and fourth spots for total new commercial construction permits. Miami-Dade had 24 starts and a total value in excess of $318.5 million, and Palm Beach County also had 24 starts with a total value just over $52.4 million. Not far behind, Polk County (Tampa) had 23 new commercial construction permits and a total value close to $100.6 million.
FL Top 5 Counties – New Commercial Construction Feb. 2016
Commercial Alterations
As previously mentioned, commercial alterations refer to all alterations, renovations and additions. In Florida, Miami-Dade County was #1 for total alterations with 122 permits and more than $43.4 million in total value. Orange County wasn’t far behind with 109 permits and a total value in excess of $77.5 million. Palm Beach County (SE) came in a close third for alterations with 103 new permits on file in February and a total construction value greater than $48.1 million. Hillsborough County (Tampa) held the fourth top spot with 101 alterations on file and more than $70.3 million in total construction value. The northern portion of the state in Jacksonville also had some new commercial activity on file as Duval County had 98 alterations with a value of more than $46.3 million.
FL Top 5 Counties for Commercial Alterations – Feb. 2016
Information utilized for the graphs and above listed figures was directly derived from HBW builder data reports. To gain access to the HBW database and receive custom and detailed reports on the latest building activity in Florida and beyond, please contact HBW for details.