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Fort Lauderdale, FL

Apartment
The Fort Lauderdale apartment market vacancy rate has run below 5.0% since 2012. It closed 2017 at 4.6%, down 10 basis points since the third quarter and down 10 for the year as a whole as well. January 2018 brought no additional change. At $1,426 and $1,367 per month, average fourth quarter asking and effective rents were up 3.7% and 2.9% for the year following gains of 4.5% each in 2016—after increases of fully 6.4% and 6.6% the year before. Respective growth rates for the fourth quarter alone were 0.0% and negative 0.3%. January 2018 followed with increases of 0.4% apiece, however. VIEW APARTMENT LISTINGS >
Industrial
The Fort Lauderdale warehouse/distribution market vacancy rate, at 5.7%, in the fourth quarter of 2017 was down 50 basis points for the period and was down fully 190 for the year—following a decline by 170 basis points in 2016. January’s excess of supply over demand resulted in a 20-basis-points increase. Rent growth has been strong. At $7.04 psf and $6.49 psf, high by national norms for the warehouse/distribution product type, asking and effective averages for the fourth quarter were up fully 4.5% and 4.8% for the year following huge increases of 5.3% and 5.8% in 2016. Gains for the fourth quarter of 2017 alone were 1.1% and 1.4%, to which January 2018 brought no changes. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Fort Lauderdale general purpose, multi-tenant office market ended 2017 at 17.7%, down 40 basis points for the period and down 60 for the year following a 70-basis-points decline in 2016. At $27.75 psf and $21.87 psf, the mean asking and effective rates for the fourth quarter were up 3.1% each for the year following gains of 2.3% and 2.5% in 2016. Fourth quarter 2017 gains were 0.5% and 0.6%. January 2018 followed with no new supply deliveries, net absorption at 5,000 square feet, no change in the vacancy rate, and no change in the mean asking and effective lease rates. VIEW OFFICE LISTINGS >
Retail
The Fort Lauderdale community-neighborhood shopping center market vacancy rate ended the fourth quarter of 2017 at 8.6%, down 20 basis points for the period and down 30 for the year following a 30-basis-points decline in 2016. Reflecting a late slight adjustment in the absorption count, January 2018 saw the rate shed 10 basis points. Rent growth remains positive with some slowing. At $21.17 psf and $18.12 psf, fourth quarter asking and effective averages were up 1.3% and 1.5% year-to-date following gains of 2.6% and 2.8% the year before. Losses of 0.5% and 0.4% are indicated for the fourth quarter. Gains of 0.1% each followed in January 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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