2020 Industrial Market Report BROWARD Q2 2020

HISTORICAL ABSORPTION

HISTORICAL ABSORPTION

VACANCY & RATES • The Broward Industrial direct vacancy rate for the first quarter of 2020 was 5.0%, an increase of 210 bps over the year • Direct net asking rental rates for all industrial types lowered 2.9% YOY to $9.83 per square foot (psf).

HISTORICAL ABSORPTION PAST 5 YEARS • Industrial historical direct net absorption from 2010 to 1Q20 in Broward County reaches over 8 msf • YTD overall net absorption totals 84,942 sf

ENE OF YEAR TOTAL NET SF ABSORBED 2010 525,534 SF

2011

-403,469 SF

Manufacturing 11,726,275

2012

747 613 SF

2013

1,360,970 SF

2014

902,895 SF

Office Services 12,462,679

2015

Warehouse/ Distribution 68,731,013

1,225,776 SF

2016

1,599,776 SF

2017

1,323,705 SF

2018

246,562 SF

2019

439,292 SF

1Q 2020

84,942

12 | BROWARD COUNTY

INDUSTRIAL MARKET REPORT | 13