Market Trends

• Asking rents in South Florida continue to climb at a rapid rate, closing out the quarter at the highest rate ever recorded exhibiting a 17.3% 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.
• Florida’s recognition as a business-friendly state has generated a surge in development for the South Florida submarkets and continues to gain attention throughout the U.S. for its record-breaking cumulative rent growth of 20.6%.

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