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Regional Summaries

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Fort Lauderdale, FL

Apartment
The small Broward County general purpose, multi-tenant office market counted by Reis at 27.4 million square feet, has seen little new general purpose office space development in recent years. Vacancy ended the first quarter of 2019 at 16.2%, down 80 basis points for the period after a loss of 60 all told through 2018. At $28.62 psf and $22.58 psf, the mean asking and effective rates for first quarter were up just 0.1% and 0.3% for the period following gains of 3.0% apiece in 2018. VIEW APARTMENT LISTINGS >
Industrial
The first quarter 2019 Fort Lauderdale warehouse/distribution sector vacancy was 9.0%, up 60 basis points for the period after a gain of fully 260 last year. Rents for warehouse/distribution space are high and rising. At $7.31 psf and $6.72 psf, asking and effective averages for the quarter were up 0.8% and 0.7% for the period following increases of 3.0% and 2.8% all told last year. For Flex/R&D space, Reis reports first quarter vacancy at 5.9%, down 80 basis points over the quarter and down 30 over 12 months. The average asking and effective rents finished the quarter at $9.71 psf and $8.98 psf, up 0.8% and 1.1%, respectively, over the quarter, and up 1.8% and 2.2% over the year. VIEW INDUSTRIAL LISTINGS >
Office
The Fort Lauderdale apartment market vacancy rate closed the first quarter of 2019 at 5.1%, unchanged over the period following 2018's 30 basis points gain. Rents for market-rate units have been rising at high rates: asking and effective averages grew by 5.9% and 5.6% through 2018. At $1,528 and $1,461 per month, respective rates for first quarter 2019 were up just 0.2% each for the period. VIEW OFFICE LISTINGS >
Retail
The Fort Lauderdale community and neighborhood shopping center market vacancy rate closed the first quarter of 2019 at 9.0% exactly, same as a quarter earlier following a 40-basis-points increase through 2018. Rent growth accelerated last year but is slowing in 2019. At $21.60 psf and $18.50 psf, first quarter asking and effective averages were down 0.2% and 0.1% for the period following gains of 2.2% each through 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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