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 58.1% increase from one year ago.
• Net absorption of 1.4 million square feet (msf), the lowest quarterly figure since Q4 2020, could be the start of a borader slowdown.
• Investors continue to see value in South Florida even as other markets have begun to cool. MG3 Group's sale-leaseback acquisition of the Walgreens distribution center in Jupiter represents both the largest lease and one of the largest sale transactions of fourth quarter. 

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