Fort Lauderdale industrial real estate market reports
Q4 2024
In Fort Lauderdale, over 980,000 square feet of new supply delivered throughout the year, leaving 890,000 square feet under construction. Investment activity experienced a modest increase, reaching $798 million in sales volume—up 17% year over year. This level of activity compares to pre-pandemic annual volume.
5.2%
Vacancy rate
Vacancy rates rose by 70 basis points year over year, primarily driven by the delivery of over 980,000 square feet of new supply.
$16.62 psf NNN
Average asking rents
Up 0.4% year over year, average asking rents remained stable as tenant demand softened.
305k sf
Net absorption
Net absorption was 141,000 square feet in the fourth quarter, totaling just over 305,000 square feet for the year.
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