Figures
Broward Industrial Figures - Q2 2024
July 11, 2024 5 Minute Read
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- Broward’s industrial market is stabilizing in 2024. While softer leasing trends weigh on net absorption, the pace of deliveries has slowed dramatically, and vacancy moved sideways over the past six months.
- The lack of supply perpetuates a tight market in Broward, with vacancy currently at 4.3%. The current rate is higher than the 3-year trailing average. However, it is below the 10-year average and is still considered a landlord market. The national vacancy rate is currently 6.1%.
- Demand will continue to be closely watched, with developers being responsive, as they have been in the last year, resulting in the likelihood of a continued tight market relative to pre-pandemic levels.