Florida’s commercial real estate market is seeing new leadership, property trades and industrial repositioning activity across multiple metros. Newmark has brought on Scott Florio as Regional Project Management Leader for Florida, based in Orlando. In his new role, Florio is tasked with establishing and leading Newmark’s project management presence in Tampa, Orlando and Jacksonville. He will leverage the firm’s statewide business relationships to support clients across Florida, including Miami, Fort Lauderdale, West Palm Beach, Naples and Fort Myers, and will work alongside brokers and other professionals to deliver integrated capital project solutions for occupiers, developers and investors. Florio previously served as Director of Project Management for CBRE | Turner & Townsend’s North Florida region.
In Florida’s retail sector, The Palomar Group brokered the sale of Port Orange Plaza, a shopping center in Port Orange, Florida. The center is anchored by Human-Conviva Care Center and Modern Concepts and is positioned along South Ridgewood Avenue, a corridor that experiences more than 52,000 vehicles per day. At the time of sale, Port Orange Plaza was 81% occupied, with in-place rents described as below market, giving the buyer a clear value-add opportunity through lease-up and rent adjustments. The seller was M&P Shopping Centers, while the buyer was not disclosed.
Industrial activity is also active, with WareSpace investing in micro-bay warehouse product in South Florida. The company, which operates micro-bay warehouse space, spent $20 million on industrial acquisitions in Miami Gardens, Florida. The 100,000-square-foot property will be converted into flexible warehouse units situated along one of Miami-Dade County’s busiest commercial corridors. WareSpace plans to reposition the asset into flexible, move-in-ready warehouse suites typically ranging from 200 to 2,000 square feet, with the property expected to serve more than 125 small businesses once the conversion is complete.
These acquisitions and planned repositioning underscore ongoing demand from small businesses for smaller-format, flexible warehouse spaces that can accommodate a variety of uses. By reconfiguring existing industrial product into smaller bays, WareSpace is targeting users that may be priced out of larger traditional warehouse footprints yet still require functional, move-in-ready logistics or light industrial space. The location along a heavily trafficked commercial corridor in Miami-Dade County adds an additional draw for tenants that value accessibility and visibility.
On the leasing front, Miramar Park of Commerce, described as the largest locally owned and managed business park in South Florida, reported completing more than 330,000 square feet of healthcare-related lease renewals so far in 2026. The park has established itself as a healthcare hub, with more than 30 healthcare and life sciences companies located on-site. The volume of renewals suggests continued commitment from healthcare users to the park’s facilities and locations.
Taken together, these updates highlight active movement across Florida’s CRE landscape, from leadership changes at national brokerage firms to retail value-add opportunities and targeted industrial acquisitions, as well as meaningful lease renewal volume in a specialized, healthcare-focused business park. Investors and operators are deploying capital into both neighborhood retail and flexible industrial assets while institutional-grade business parks secure long-term commitments from healthcare and life sciences tenants.
