More than 235,000 commercial properties are in Hurricane Milton's path, per Moody's Analytics,AP Photo/Rebecca BlackwellMore than $1 trillion worth of property lies in Hurricane Milton's path, Moody's estimated.More than 235,000 commercial properties could be exposed to dangerous winds, per Mood's. Hurricane Milton made landfall in Florida on Wednesday as a Category 3 hurricane.Hurricane Milton made landfall in Florida on Wednesday as a Category 3 hurricane, and analysts estimate that $1.1 trillion worth of commercial property is set to be exposed to dangerous hurricane winds.According to an estimate by Moody's Analytics on Tuesday, more than 235,000 commercial real estate properties in Florida — worth $1.1 trillion —have a greater than 50% chance of being exposed to wind speeds of at least 50 miles per hour.This is the speed at which some property damage is likely, the Moody's report said.According to the report, the properties include 44,122 industrial spaces, 78,916 retail properties, 42,387 office buildings, 64,857 apartment buildings, and 5,056 hotels.According to an analysis note by Jefferies, Milton's estimated financial damage in Florida could reach $175 billion."While too early to make insured loss estimates, a major hurricane impact in one of Florida's most heavily populated regions could result in mid-double-digit billion dollar loss," Jefferies equity analysts said in a note."A 1-in-100 year event is estimated by some to result in $175bn in losses for landfall in the Tampa region, and $70bn in losses in the Ft Myers region," the note added.The monster storm morphed rapidly into a Category 5 hurricane over two days.

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BING NEWS:
  • Hurricane Milton relief efforts: These companies are helping affected communities
    A growing number of companies, including CVS, Home Depot and Walmart, have already announced plans to help victims impacted by back-to-back hurricanes.
    10/9/2024 - 11:19 pm | View Link
  • Hurricane Milton is headed right into $1.1 trillion worth of commercial real estate properties: Moody's
    There are more than 235,000 commercial properties that could be exposed to dangerously strong winds, per estimates from Moody's Analytics.
    10/9/2024 - 9:17 pm | View Link
  • Hurricane Milton is barreling toward $1 trillion worth of commercial properties
    Hurricane Milton is expected to make landfall in Florida either tonight or tomorrow morning. Apart from the people and communities threatened by the storm, more than 235,000 commercial properties ...
    10/9/2024 - 6:42 am | View Link
  • Hurricane Milton threatens 235K commercial properties, Moody's estimates
    Hurricane Milton is just hours away from hitting the state of Florida, and Moody's says more than $1 trillion worth of commercial real estate alone is in the powerful storm's path."More than 235,000 ...
    10/9/2024 - 5:38 am | View Link
  • Hurricane Milton still a dangerous Category 4 storm as it approaches Florida
    TAMPA, Fla. — Hurricane Milton remains a strong and dangerous storm Wednesday afternoon in the Gulf of Mexico, about 150 miles southwest of Tampa. As of the 2 p.m. advisory, Milton has slightly ...
    10/8/2024 - 1:00 pm | View Link
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