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Fort Lauderdale, FL

Apartment
Vacancy in the Fort Lauderdale apartment market ended 2016 at 4.7%, unchanged since the third quarter but up 60 basis points for the year. January 2017’s modest imbalance added 10 more basis points to the rate. At $1,370 and $1,321 per month, respective average fourth quarter asking and effective rents were up 4.1% each for the year. Gains in the fourth quarter alone were 1.0% and 1.1%, to which January followed with increases of 0.3% in both. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the Fort Lauderdale warehouse/distribution market is favorable and heading downward. According to Reis, the fourth quarter 2016 rate was 9.0%, down 60 basis points for the period and down 50 for the year. The lack of deliveries that followed in January 2017 met with 27,000 square feet of net absorption as the vacancy rate held steady. At $6.51 psf and $5.97 psf, respective fourth quarter average asking and effective rents were up 2.8% and 3.1% for the year. Gains in the fourth quarter alone were 0.9% and 1.0%. January followed with increases of 0.3% and 0.2%. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Fort Lauderdale general purpose, multi-tenant office market, still relatively elevated, has been declining. The fourth quarter 2016 rate was 18.0%, down 30 basis points for the period and down 100 for the year. Rent growth, while less than robust, strengthened in 2016. At $26.93 psf and $21.23 psf, respective mean asking and effective rates for the fourth quarter represented gains of 2.3% and 2.5% for the year. Gains in the fourth quarter alone were 0.6% and 0.7%. January 2017 added about a nickel to each rate. VIEW OFFICE LISTINGS >
Retail
Fourth quarter 2016 vacancy in Fort Lauderdale’s community-neighborhood shopping center market was favorable at 8.9%. A quarter and a year earlier, it was 40 and 30 basis points higher. Rent growth remains strong. At $20.90 psf and $17.86 psf, respective fourth quarter asking and effective averages were up 2.6% and 2.8% for the year. Gains in the fourth quarter alone were 0.5% and 0.6%. January 2017 saw positive net absorption with a 20-basis-points drop in the vacancy rate and gains of 0.1% each for asking and effective rents. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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