The Real Deal Miami

Industrial leasing up in Broward, down in Palm Beach

July 24, 2008 11:39AM

Broward County industrial leasing increased in the second quarter, although Miami-Dade remained flat and Palm Beach County saw a drop over the three-month period, according to a report from Cushman & Wakefield. Broward County’s industrial market was driven by strong user sales, which increased 81.3 percent from the first quarter, the report said. Companies in Palm Beach remained reluctant to relocate, and leasing dropped by 50 percent from the first quarter. Miami-Dade user sales rose, helped by a single 265,000-square-foot transaction at 1000 S.E. Eighth St, and leasing activity remained steady there. The Miami-Dade vacancy rate remained the same as the first quarter, at 6.2 percent.