2019 Industrial Market Report - Broward County

HISTORICAL ABSORPTION

VACANCY & RATES • Industrial historical net absorption from 2010 to 2Q19 in Broward County totals 6.8 msf • YTD overall net absorption totals 175,500 sf • The overall vacancy rate for industrial space was down 30 bps to 3.4% at the end of the quarter and 210 bps below the 5-year historical average of 5.5% • Overall, all industrial asset classes witnessed a yearly increase in average asking rates, up 6.9% to $10.01 psf NNN, the second quarter in a row where that overall average rent has topped $10.00 psf, NNN.

END OF YEAR

TOTAL NET SF ABSORBED

2010

2,117,003 SF

2011

2,306,084 SF

2012

1,670,143 SF

2013

1,028,256 SF

2014

1,938,041 SF

2015

2,426,756 SF

2016

2,196,870 SF

2017

1,301,929 SF

2018

3,679,935 SF

12 | BROWARD COUNTY