2019 Industrial Market Report - Broward County
2019 KEY INDUSTRIAL DRIVERS
ECONOMICS Broward County continues to see solid job growth numbers, expansion by existing tenants and attract new tenants to the market.
eCOMMERCE Expectations are high that additional sites will be taken down by eCommerce companies looking for “Last Touch” facilities close to end customers.
QUALITY Demand by tenants for larger bay options and efficient options provides incentives for new construction.
LAND Available land in Broward is scarce, but when it does come on the market, sales are closed in short order.
DEMAND Tenants absorbed +/-300,000 SF in the first three quarters of 2019.
CAP RATES Cap rates have increased slightly in 2019 from historic lows recorded in 2018 on significant increases in new construction.
INDUSTRIAL MARKET REPORT | 5
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