Market Trends

• Year over year, the vacancy rate inched down 10 basis points (bps) from 3.3% to 3.2%, however, vacancy is up 30 bps quarter over quarter.
• Net absorption saw a significant 157% drop quarter over quarter, partly impacted by Amazon vacating 500,000 square feet at County Line Business Center in Southwest Broward.
• Total inventory increased 4% over the quarter and new deliveries will continue at a healthy pace as there is approximately 13 million square feet under construction.

Read the full report