Fort Lauderdale base vs. NER pricing difference sees significant growth in the past 12 months
- As of March 2025, Fort Lauderdale’s base vs. NER (net effective rent) differential has reached an all-time high, noting a difference of $5.94 per square foot (psf) (FS).
- A larger gap between base and effective rents suggests that landlords are offering more attractive concession packages to incentivize tenants. Noting that quarterly leasing activity has declined slightly since Q2 2024, it is clear that landlords are opting to boost concessions as opposed to lower asking rents.
- Vacancy rates in Fort Lauderdale have remained relatively stable in recent years, hovering around 16%. Granted landlords continue to offer more aggressive concessions, transaction activity is likely to increase, applying downward pressure on vacancies.
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US-FL-FLL Fort Lauderdale