Why South Florida

Industrial Market Snapshot Q1 2024 249.6 MSF Warehouse/Distribution 25.7 MSF Office Services/Flex 75 95 95 826 826 924 27 27 Opa Locka Airport HIALEAH MIAMI LAKES AIRPORT NORTH/ MEDLEY NORTHEAST DADE NORTH CENTRAL DADE NORTHWEST DADE MIAMI

BROWARD

PALM BEACH

AIRPORT EAST/ DOWNTOWN

195

195

AIRPORT WEST

34.3 MSF Manufacturing

Miami International Airport

95

826

836

836

SOUTH DADE

Submarket Spotlight

Biscayne Bay

MIAMI-DADE

175.5 MSF Inventory

4.2% Overall Vacancy

$16.99 Overall Rent (NNN PSF)

Supply & Demand South Florida

Overall Rental & Vacancy Rates South Florida

BROWARD

92.6 MSF Inventory

3.1% Overall Vacancy

$15.11 Overall Rent (NNN PSF)

0.5% 0.0% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0%

25.0M

$18.00

$16.00

20.0M

$14.00

$12.00

15.0M

$10.00

10.0M

$8.00

PALM BEACH

$6.00

5.0M

$4.00

41.4 MSF Inventory

4.7% Overall Vacancy

$14.53 Overall Rent (NNN PSF)

-

$2.00

2019

2020

2021

2022

2023

YTD 2024

2019

2020

2021

2022

2023

YTD 2024

Leasing Activity

Construction Completions

Overall Absorption

Overall Rental Rate

Overall Vacancy

Cushman & Wakefield | Why South Florida

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