Market Trends

• Asking rents in South Florida continue to climb at a rapid rate, closing out the quarter at the highest it has ever been exhibiting a 16% annual increase from one year ago.
• Although inventory has increased due to new deliveries, the vacancy rate continues to drop due to healthy pre-leasing of buildings under construction.
• Roughly two-thirds of the leasing deals done this quarter were transactions over 20,000 SF with the logistics and distribution industry reclaiming the top spot of most square footage leased.

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