Why Florida - CW 2023 Q2 RFS

Industrial Market Snapshot Q2 2023 710.4 MSF Statewide Inventory DIRECT VACANCY RATE 5 % 5.2 %

OVERALL NET ABSORPTION SF

2.8M

2.5M

4.1 %

3.8 %

4 %

2M

DIRECT VACANT SPACE 20.4 MSF

SUBLEASE VACANT SPACE 2.3 MSF

1.7M

3.3 %

1.5M

1.5M

2.7 %

1.3M

3 %

2.6 %

2.5 %

1M

2 %

1.6 %

511.6k

500k

195.0k

128.3k

1 %

0

−35.3k

2.7M

Miami/Dade

Miami/Dade

68.1k

0 %

DIRECT WTD AVG RENTAL RATE $10.72 PSF Palm Beach County 3.4M Tampa/Hillsborough 1.2M Pinellas County 3.5M Lakeland/Polk 2.8M Orlando 2.8M Jacksonville 2.4M Broward 1.5M

467.9k Broward 56.3k Palm Beach County 360.7k Tampa/Hillsborough 261.1k Pinellas County 11.1k Lakeland/Polk 557.4k Orlando 484.7k Jacksonville

OVERALL VACANCY RATE

LEASING ACTIVITY SF

5.2 %

3.5M

3.5M

5 %

4.5 %

3.0M

3.0M

4.0 %

3.9 %

OVERALL WTD AVG RENTAL RATE $10.61 PSF

2.5M

4 %

2.5M

2.2M

3.2 %

3.1 %

2.9 %

3 %

2.0M

1.5M

1.1M

2 %

1.6 %

833.4k

1.0M

514.9k

457.6k

1 %

0.5M

$14.18 Miami/Dade $15.31 Broward

$14.18 Miami/Dade $15.03 Broward

0 %

0.0M

$15.60 Palm Beach County $8.50 Tampa/Hillsborough $10.31 Pinellas County $7.07 Lakeland/Polk $10.90 Orlando $8.06 Jacksonville

$15.23 Palm Beach County $8.59 Tampa/Hillsborough $10.28 Pinellas County $7.07 Lakeland/Polk $10.73 Orlando $7.62 Jacksonville

Construction

Miami/Dade

Broward

Lakeland

9.3 MSF 25.8 MSF

Tampa/Hillsborough

Palm Beach County

UNDER CONSTRUCTION

CONSTRUCTION COMPLETIONS

Pinellas County

Orlando

Jacksonville

Cushman & Wakefield | Why Florida

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