4Q23 FL Industrial - Stat Sheet

First page Table of contents 1 Last page

FLORIDA INDUSTRIAL MARKET STATISTICS 4Q 2023

Direct

Sublease

Y-o-Y

Direct

Overall

Y-o-Y

YTD

Y-o-Y

Quarter

YTD

Number Buildings 2,329 1,391

Vacant Space

Direct

Overall

Wtd. Avg.

Leasing Activity

Overall Net Absorption

Construction Completions

Under

OVERALL MARKET

Inventory

Vacancy Rate

Change

Rental Rates

Rental Rates $15.68 $15.29 $14.71 $9.35 $10.42 $7.39 $11.19 $9.09 $11.27 Rental Rates $15.56 $15.15 $14.82 $8.78 $10.53 $7.39 $9.56 $8.23 $10.76 Rental Rates $19.25 $17.11 $16.82 $13.57 $12.04 $14.30 $12.50 $14.43 Overall Wtd. Avg. N/A Rental Rates $13.44 $20.75 $8.50 $8.75 $8.21 $12.00 $13.48 $13.38 $11.65 Overall Wtd. Avg. Overall Wtd. Avg.

Change

Construction

Miami/Dade

171,615,331 92,261,007 41,222,152 83,056,113 35,938,878 70,253,452 118,009,188 111,618,673 723,974,794 145,178,221 70,325,185 29,631,961 65,733,821 14,792,041 60,909,377 92,590,307 87,484,473 566,645,386 Inventory 8,757,218 11,942,034 4,965,976 8,308,770 5,410,188 12,236,975 4,357,822 56,409,170 17,679,892 9,993,788 6,624,215 9,013,522 15,736,649 8,913,888 13,181,906 19,776,378 100,920,238 430,187 Inventory Inventory

3,951,780 2,502,702 1,756,134 3,738,198 960,161 4,426,307 3,918,333 3,692,647 24,946,262 3,605,632 2,314,966 1,552,308 3,292,746 452,502 4,422,083 3,202,573 3,150,640 21,993,450 Direct Vacant Space

242,368 182,096 231,022 195,334 11,050 515,631 485,994 8,290

2.3% 2.7% 4.3% 4.5% 2.7% 6.3% 3.3% 3.3% 3.4% 2.5% 3.3% 5.2% 5.0% 3.1% 7.3% 3.5% 3.6% 3.9% 1.8% 1.6% 3.0% 5.0% 4.8% 0.0% 5.4% 3.6% 3.5% 1.0% 0.0% 0.9% 0.3% 1.6% 0.0% 0.4% 2.0% 1.0% Direct Direct Direct

2.4% 0.8% $15.60 2.9% -0.5% $15.37 4.3% 1.9% $14.71 4.8% -0.8% $9.36 3.2% -0.4% $10.47 6.3% 2.5% $7.39 3.8% 1.2% $11.25 3.7% 1.8% $9.09 3.7% 0.8% $11.28 2.6% 0.9% $15.46 3.5% -0.5% $15.23 5.2% 2.4% $14.82 5.3% -1.2% $8.77 3.8% 0.4% $10.53 7.3% 2.9% $7.39 4.0% 1.4% $9.55 4.2% 2.4% $8.23 4.2% 1.1% $10.77 2.0% 0.6% $19.54 1.7% -1.6% $17.26 3.1% 0.6% $16.89 5.6% 1.1% $13.61 6.3% 0.4% $12.91 2.6% 0.0% N/A 5.5% -0.1% $14.37 3.6% -0.1% $12.50 3.9% 0.0% $14.75 1.0% -0.6% $13.44 0.0% 0.0% $20.75 0.9% 0.6% $8.50 0.3% 0.2% $8.75 1.6% -1.3% $8.21 0.0% -0.2% $12.00 0.4% 0.3% $13.48 2.0% -0.8% $13.38 1.0% -0.1% $11.65 Y-o-Y Direct Overall % Wtd. Avg. Change Y-o-Y Direct Overall % Wtd. Avg. Change Y-o-Y Direct Overall % Wtd. Avg. Change

3.8% 7,844,458 12.1% 2,782,315 1.7% 1,220,602 21.2% 4,136,499 9.9% 1,073,034 15.3% 2,149,762 18.3% 5,537,015 26.9% 8,268,525 21.6% 33,012,210 3.2% 7,414,617 15.0% 2,337,553 6.0% 975,695 25.6% 3,735,895 23.1% 659,807 15.2% 2,139,252 18.4% 4,850,059 39.7% 7,686,027 26.1% 29,798,905 Y-o-Y YTD % Leasing Activity Change 1.8% 186,004 1.7% 379,077 2.3% 123,491 -1.9% 333,501 -0.9% 235,697 13.9% 623,890 6.0% 257,738 4.9% 2,145,258 N/A 5,860 Y-o-Y YTD % Leasing Activity Change

-21.6% 857,993 1,542,626 3,047,093 7,133,536 -43.1% 244,130 1,158,710 693,256 618,023 -31.6% 73,931 164,976 972,252 1,806,605 -44.3% 253,399 3,192,700 2,656,135 2,920,396 -1.3% 284,002 541,779 413,976 347,230 -16.4% -3,985 469,531 2,325,019 1,944,240 -28.6% 1,413,199 3,833,914 5,313,618 4,726,698 27.0% 2,908,392 5,190,042 7,372,566 4,431,578 -21.5% 6,031,061 16,094,278 22,793,915 23,928,306 -21.7% 811,442 1,644,111 3,047,093 7,133,536 -44.3% 196,127 971,056 693,256 618,023 -28.1% 74,355 224,460 972,252 1,806,605 -43.2% 178,271 3,286,114 2,656,135 2,760,396 69.0% 167,104 326,956 413,976 347,230 -30.1% 1,403,885 3,849,337 5,313,618 4,726,698 30.5% 2,869,230 5,126,323 7,332,816 4,431,578 -20.3% 5,694,059 15,899,312 22,754,165 23,768,306 -16.8% (6,355) 470,955 2,325,019 1,944,240 Y-o-Y Quarter YTD YTD % Overall Net Absorption Overall Net Absorption Construction Completions Under Change Construction

Broward County Palm Beach County Tampa/Hillsborough Pinellas County

665

1,035

672 473

Lakeland/Polk

Orlando

1,391

Jacksonville

944

8,900

1,871,785

FLORIDA TOTAL

Sublease

Number Buildings 1,872

Vacant Space

WAREHOUSE/DISTRIBUTION

Vacancy Rate

Rental Rates

Miami/Dade

226,108 168,021 184,059 114,334 750

Broward County Palm Beach County Tampa/Hillsborough Pinellas County

966 446 695 271 388 982 673

Lakeland/Polk

Orlando

508,881 485,994 1,688,147

Jacksonville

6,293

TOTAL

Direct

Sublease

Y-o-Y

Quarter

YTD

Number Buildings

Vacant Space

Overall Net Absorption

Construction Completions

Under

OFFICE SERVICES/FLEX

Vacancy Rate

Rental Rates

Change

Construction

Miami/Dade

166 266 116 217 118

161,081 186,924 146,924 417,222 260,839

16,260 14,075 7,540 46,963 81,000 11,050 6,750

-37.2% 17,201 -58,728 -33.6% 48,815 187,781

0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Broward County Palm Beach County Tampa/Hillsborough Pinellas County

-56.6%

-424

-31,323 -93,414

-39.3% 7,948

-39.5% 28,221 -23,672

Lakeland/Polk

N/A

3,620 6,486

Orlando

231

663,138 155,447 1,991,575

-9.9%

20,899

Jacksonville

15.4% 41,707 42,164 -28.6% 153,574 43,707

39,750 39,750

1,213

183,638

TOTAL

Direct

Sublease

Y-o-Y

YTD

Y-o-Y

Quarter

YTD

Number Buildings

Vacant Space

Leasing Activity

Overall Net Absorption

Construction Completions

Under

MANUFACTURING

Vacancy Rate

Rental Rates

Change

Construction

Miami/Dade

291 159 103 123 283 178 184 73

185,067

0 0 0 0 0 0 0 0

62.3% 243,837

-1.0% 29,350 -42,757

0 0 0 0 0 0 0 0 0

Broward County Palm Beach County Tampa/Hillsborough Pinellas County

812

23.9%

65,685

-47.3% -14.4%

-812

-127

56,902 28,230 246,820 4,224 52,622 386,560 961,237

-22.5% 121,416

-28,161

0.0%

67,103

-77.5% 67,180

160,000

0.8% 177,530

-42.3% 88,677 238,495

Lakeland/Polk

0.0% -4.1%

4,650 63,066

N/A

-1,250

-1,424 -36,322 21,555

Orlando

-47.9% 2,828 -18.9% -2,545

Jacksonville

93.4% 324,760 49.7% 1,068,047

1,394

-34.9% 183,428 151,259

160,000

TOTAL

* Overall figures include sublease and direct space. Note: Cushman & Wakefield is continuously refining its database. Due to adjustments made to the inventory, vacancy & leasing activity which affects absorption, current figures may not match what was published previously. Historical data has been adjusted to take in account these changes Note: Cushman & Wakefield is continuously refining its database. Due to adjustments made to the inventory, vacancy & leasing activity which affects absorption, current figures may not match what was published previously. Historical data has been adjusted to take in account these changes. This report contains information available to the public and has been relied upon by Cushman & Wakefield on the basis that it is accurate and complete. Cushman & Wakefield accepts no responsibility if this should prove not to be the case. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. Copyright @ 2022 Cushman & Wakefield, Inc. All rights reserved.

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