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Fort Lauderdale, FL

Apartment
The Fort Lauderdale apartment market vacancy rate in the third quarter of 2017 was 4.6%, up 10 basis points for the period but down 10 year-to-date following a 60-basis-points increase through 2016. The rate remained flat through the end of November. At $1,404 and $1,350 per month, average third quarter asking and effective rents were up 2.4% and 1.9% year-to-date following gains of 4.2% each in 2016—after increases of fully 6.4% and 6.6% the year before. Gains for the latest quarter alone were 0.7% and 0.4%. November followed with no change in rental rates. VIEW APARTMENT LISTINGS >
Industrial
Strong demand has resulted in a steep downward trend in the Fort Lauderdale warehouse/distribution vacancy rate. At 6.3%, the third quarter 2017 rate was down 40 basis points for the period and was down fully 140 year-to-date—following a decline by 160 basis points through 2016. October-to-November’s absorption sum lowered the rate an additional 60 basis points. At $6.82 psf and $6.27 psf, high by national norms for the warehouse/distribution product type, asking and effective averages for the third quarter were up fully 2.7% and 3.0% year-to-date following increases of 4.1% and 4.5% through 2016. Gains for the third quarter alone were 0.7% and 0.8%, to which October through November added respective gains of 0.7% and 0.8%. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Fort Lauderdale general purpose, multi-tenant office market ended the third quarter of 2017 at 18.2%, up 40 basis points for the period but down 10 year-to-date after 2016’s loss of 70. Rent growth, while less than stellar, strengthened in 2016 and is strengthening in 2017 as well. At $27.61 psf and $21.75 psf, the mean asking and effective rates for the third quarter were up 2.6% and 2.5% year-to-date following last year’s increases of 2.3% and 2.5%. The third quarter alone saw increases of 1.0% and 0.9%. November followed with a 40-basis-points decline in the vacancy rate and gains of three cents each in the mean asking and effective rents. VIEW OFFICE LISTINGS >
Retail
The community-neighborhood shopping center market vacancy rate ended the third quarter of 2017 at 8.8%, down 20 basis points for the period and down 10 year-to-date following a 30-basis-points decline through 2016. October-to-November’s positive net absorption lowered the rate by an additional 20. Rent growth remains healthy with some slowing. At $21.27 psf and $18.20 psf, third quarter asking and effective averages were up 1.8% and 1.9% year-to-date following gains of 2.6% and 2.8% last year. Both averages saw 0.7% increases during the third quarter. November subtracted three and two cents from each average, respectively. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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