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%.
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.
Under construction
At the end of the third quarter, there was 991,753 square feet of industrial product under construction.
Your source for the latest Fort Lauderdale industrial real estate reports
Stay on top of current trends affecting the industrial real estate sector in Fort Lauderdale. Gain an overall better understanding of Fort Lauderdale's industrial real estate market conditions, so you can better formulate strategies to overcome any obstacle and know how to best invest in industrial real estate in Fort Lauderdale.
Here, you’ll always find the latest industrial real estate market news so you can stay ahead. Come back often to see expert insights on the current and future of Fort Lauderdale's industrial real estate market.