Fort Lauderdale industrial real estate market reports
Q1 2024
Fort Lauderdale’s unemployment rate witnessed a slight uptick year-over-year, increasing 60 basis points reaching 3.1%. Total nonfarm jobs have seen a 1.8% increase in employment, with the trade, transportation and utilities sector experiencing a 3.1% employment growth.
Absorption
Fort Lauderdale experienced 520,351 square feet of positive absorption during the first quarter of the year.
Industrial rent growth
Fort Lauderdale’s industrial rent growth outpaced all other major Southeastern industrial markets over a 3-year span, with an 87% increase.
Net absorption
Tenant demand during the first quarter resulted in over 1.8 million square feet leased.
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