Fort Lauderdale industrial real estate market reports
Industrial insights Q2 2021
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E-commerce continues to have a significant impact on the Fort Lauderdale market, which is creating marked demand for higher quality class A distribution space. Developers continue to scout for sites to stay ahead of demand and average asking rents continue to report incremental gains.
South Florida’s current unemployment rate, aided by the steady employment of essential workers, a logistics hub and a sharp but entrenched rise in e-commerce spending.
Florida’s ranking in a WalletHub study of the top U.S. states for their rates of recovery. Logistics, e-commerce and the distribution of consumer products continue to drive leasing activity in Fort Lauderdale, a trend that is expected to continue well into 2022.
The amount of leasing activity recorded so far during 2021 compared to all leasing volume during 2020. The largest lease concluded during Q2 occurred in the Northwest Broward submarket when an e-commerce company leased a 215,486-sf class A distribution building.
Total sf (in millions) of all industrial development under construction in Broward County. Half of these buildings underway are in the pivotal 100,000 – 250,000 sf range in heavy demand.
The increase in average asking base rents since the onset of the pandemic. The Amazon effect has driven some of the acceleration in asking rents over the last year.
Total volume of all industrial investment sales in Fort Lauderdale over the trailing 18-mo period ending June 2021. Industrial volumes are down 8.3% against the prior five-year average due in part to fewer properties being placed on the market for sale.
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