Fort Lauderdale Retail Market Report

An increasing number of employed households aids local retail. Population growth double the U.S. pace, paired with a below-national unemployment rate as of May, reflects the positive influence each dynamic has had on each other and the metro broadly. An expanding number of employed households is underpinning retailers' demand for space in Broward County, reflected in vacancy holding just 20 basis points above its record low as of the first quarter. Among new leases signed so far this year are fitness concepts as well as home improvement and value stores, including Floor & Decor, Crunch Fitness and Save-a-Lot. Pockets of leasing activity for floorplans 3,000 square feet and above were observed in the cities of Fort Lauderdale and Pembroke Pines, near Route 817 between Tamarac and Sunrise, and in the greater Coral Springs area.