Marcus & Millichap

Fort Lauderdale Industrial Investment Forecast

2019 Outlook

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Investors Entertain Wide Variety of Industrial Opportunities in Broward County

Rising population facilitating industrial space demand. Broward County is adding residents at more than twice the national average, generating significant household growth. As new households are formed, the industrial space that supports building and filling homes is in high demand. Spillover demand from the housing market in nearby Miami-Dade County is also generating leasing activity as homebuilders and retailers seek more affordable options. As a result, vacancy remains tight across the industrial spectrum. Beyond warehousing and distribution, flex building operations will remain strong this year as healthcare companies expand their presence. For example, the education and health services employment sector added more jobs last year than all but trade, transportation and utilities. On the supply side, two industrial parks account for a sizable share of the new development. The Bridge Point Powerline Road park and Davie Business Center will come online over the summer. Neither park has significant pre-leasing commitments, contributing to a modest countywide uptick in vacancy.

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