TAKEAWAYS

• South Florida's Class A average asking rent reached a new record high of $46.51 per square foot (psf), a 7% increase quarter over quarter
• Leasing activity of just over 2.1 million square feet (msf) was 57% higher than the previous quarter and an increase of 29% compared to the same period a year ago
• Overall availability decreased slightly to 18.7% from 20.7% a year ago with Class A availability showing a marked decrease from 24.5% reported a year ago to 20.9%

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