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Fort Lauderdale, FL

Apartment
First quarter 2017 vacancy in the Fort Lauderdale apartment market was 4.9%, up 20 basis points for the period following a 60-basis-points increase through 2016. April returned the rate to 4.7%. At $1,376 and $1,329 per month, respective first quarter average asking and effective rents were up 0.3% each for the period following gains of 4.1% and 4.2% last year. April followed with respective gains of 0.4% and 0.8%. VIEW APARTMENT LISTINGS >
Industrial
Fort Lauderdale warehouse/distribution vacancy is favorable and heading downward. The first quarter 2017 rate was 8.4%, down 60 basis points for the period following a decline by 50 all told last year. At $6.56 psf and $6.02 psf, respective first quarter average asking and effective rents were up 0.8% each for the period on the heels of increases of 2.8% and 3.1% through 2016. Reis’s calculations for April indicate gains of 0.3% for both asking and effective averages and a vacancy rate of 8.2%. VIEW INDUSTRIAL LISTINGS >
Office
The 27.2-million-square-foot Broward County general purpose, multi-tenant office market vacancy rate ended the first quarter of 2017 at 17.8%, a decline by 50 basis points for the period after 2016’s loss all told of 70 basis points. Rent growth, while less than robust, strengthened in 2016. At $27.21 psf and $21.46 psf, the respective mean asking and effective rates for the first quarter of 2017 were up 1.1% each following last year’s increases of 2.3% and 2.5%. April followed with gains of two and one cents for the overall asking and effective rents along with a lack of movement in the overall vacancy rate. VIEW OFFICE LISTINGS >
Retail
The vacancy rate in the Fort Lauderdale community-neighborhood shopping center market was 8.7% in the first quarter of 2017, down 20 basis points for the period after a loss of 30 last year. Rent growth remains strong. At $21.10 psf and $18.03 psf, respective first quarter asking and effective averages were up 1.0% each for the period following gains of 2.6% and 2.8% last year. A dose of negative net absorption following in April returned the vacancy rate to 8.9% while rents remained essentially flat. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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