Ocala Industrial_Q2 2021

Industrial Q2 2021 OCALA

OVERALL VACANCY & ASKING RENT

Q2 2021 ECONOMIC INDICATORS

Industrial tenants and users are increasingly attracted to the Ocala Metropolitan Statistical Area (MSA) due to ample developable sites coupled with labor availability. The MSA, with a combined population of 370,000 is a magnet for retirees and famous for thoroughbred horse farms. More recently, Ocala has become noted as a major logistics site for investment and preferred location for firms to serve customers throughout the state as well as in the Southeast. There is direct access to Interstate-75 and the Florida Turnpike with the Orlando and Tampa Bay markets less than 60 minutes to the south.

$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0%

12-Mo. Forecast

YoY Chg

6.4% Ocala Unemployment Rate 106,900 Ocala Employment 5.9% U.S. Unemployment Rate

2016

2017

2018

2019

2020

2Q21

Overall Net Asking Rental Rate

Overall Vacancy Rate

Source: Numbers above are monthly, FL Dept. Economic OPP

SPACE DEMAND / ABSORPTION / DELIVERIES

PROJECTS UNDER CONSTRUCTION/PROPOSED BUILDING STATUS SIZE (SF)

2,500,000

SPEC/BTS AVAILABILITY SPACE

2,000,000

SW 44 th Ave

UC

42,520

SPEC SPEC SPEC

42,520

3171 NW 44th Ave 2275 SW Hwy 484

Proposed Proposed

1,085,280

1,085,280

1,500,000

943,200

943,200

1,000,000

SIGNIFICANT AVAILABILITIES BUILDING SIZE (SF)

500,000

RENT/SF

AVAILABILITY TYPE

0

2016

2017

2018

2019

2020

2Q21

6045 SE 83 rd Street 5151 NW 5 th Street

732,742 30,000

$4.50 $7.50 $6.00

Direct Direct Direct

Leasing Activity

Overall Net Absorption

Construction Deliveries

343 NE 1 ST Ave

6,240

Demand

Supply

+3.5% OCALA MSA YOY Private Employment

6.4% OCALA MSA Unemployment Rate

139k SF YTD Overall Net Absorption

423k SF YTD Leasing

+279% YOY Leasing % Change

20.5 MSF Inventory

Overall Vacancy Rate 4.6% $4.47 PSF Overall Asking Rents

SCORECARD Industrial Q2 2021 OCALA

Chris Owen Director Tel: +1 407 541 4417 Chris.owen@cushwake.com

A Cushman & Wakefield Research Publication Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. ©2021 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources believed to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy. cushmanwakefield.com