Capital Markets Florida

FLORIDAMARKET SNAPSHOT

FLORIDA OFFICE MARKET INVESTOR SENTIMENT IS IMPROVING AS THE COVID VACCINE REACHES FIRST RECIPIENTS, TENANTS RETURN TO THE OFFICE AND THE REGION CONTINUES TO SEE INBOUND TENANT MIGRATION

DIRECT VACANCY

DIRECT RENTAL RATE YTD NEW COMPLETIONS

12.7% $31.76 PSF 1.6M SF

3Q20

FLORIDA INDUSTRIAL MARKET SEVERAL YEARS OF FUTURE GROWTH IN E-COMMERCE WERE ACCELERATED INTO 2020 , RESULTING IN SUBSTANTIAL DEMAND IN INDUSTRIAL SPACE FROM A VARIETY OF TENANTS. DEMAND FROM E-COMMERCE GROWTH HAS NOW MIGRATED INTO THE BROADER INDUSTRIAL COMMUNITY

DIRECT VACANCY

DIRECT RENTAL RATE YTD NEW COMPLETIONS

6.4% $7.36 PSF 14.3M SF

3Q20

6 | FLORIDA OFFICE & INDUSTRIAL