Market Trends

• Industrial asking rents in South Florida are increasing at a fast pace and are up 13.3% over the past year.
• Tenant demand continues to strengthen with net absorption totaling 12.5 million square feet (MSF) during 2021, which is double the amount recorded for 2020. Meanwhile, vacancy fell to 3.9% from 5.8% one year ago.
• Looking ahead, new supply will remain moderate in the region which has significant barriers to entry for new development and tenants will continue to be challenged finding industrial space.

Read the full report