Monday Market Update
National Update: Wage Growth Surpassing Inflation
The recent trend of wage growth exceeding inflation, as reported by [Bankrate](https://www.bankrate.com/banking/federal-reserve/wage-to-inflation-index/), is a boon for both businesses and the commercial real estate market. This leads to increased consumer spending, benefiting retailers and other consumer-focused businesses, and boosts demand for commercial spaces.
Florida’s Commercial Real Property Lease Tax Reduction
Effective December 1, 2023, Florida’s sales tax rate on commercial real property lease payments has been reduced from 5.5% to 4.5%. [Here’s the official document](https://floridarevenue.com/taxes/tips/Documents/TIP_23A01-20.pdf). This reduction is a financial relief for businesses leasing commercial spaces and could enhance the state’s appeal as an investment location.
Inside the Office: Amy Calandrino’s SIOR Designation
Amy Calandrino, SIOR, reflects on earning the prestigious SIOR designation. Balancing her growing family and managing Beyond Commercial, this achievement signifies her commitment to both her personal and professional life.