Fort Lauderdale Industrial Market Report
Tourism to Provide Future Industrial Gains;
Online Retail Generating Current Demand
Local economy awaits key sector recovery. Broward County is highly dependent on the tourism industry, which supports many industrial properties as hotels, restaurants and other visitor-related establishments need to stockpile inventory. However, the recent surge in COVID-19 cases in the state has kept tourists at bay, delaying a stronger economic recovery. Through August, leisure and hospitality employment was still more than 10,000 jobs, or 11 percent, below the pre-recession peak. A recent sharp decline in positive cases across Florida, along with colder weather in northern states, could provide a boost in visitors through the winter months and drive demand at industrial properties.