Fort Lauderdale industrial real estate market reports

Q3 2023

At the end of August, Fort Lauderdale's unemployment rate stood at 3.1%, remaining lower than the national unemployment rate of 3.8%. The trade, transportation, and utilities sector experienced a 2.5% year-over-year growth, while construction occupations declined by 2.8%. Notable trends of the third quarter comprised a persistent surge in asking rates, an uptick in leasing velocity, and nearly 1 million square feet of new inventory on the horizon.


Asking rental rates

Robust tenant demand remained a driving force in the third quarter, pushing asking rates up by 19.7% year over year and reducing vacancy to 3.3%.

1.9 msf

Leasing activity

Leasing activity surged for the third-straight quarter, increasing by 65.6% from the second quarter to reach 1.9 million square feet.

991k sf

Under construction

At the end of the third quarter, there was 991,753 square feet of industrial product under construction.


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