The Real Deal Miami

Broward County industrial market showing increased momentum: report

August 07, 2012 10:30AM

Absorption in Broward County posted a four-fold increase in the first half of 2012 compared to the previous year, according to a report from Cushman & Wakefield. There was a total of 779,119 square feet of take-up in the county, the highest reported first-half absorption activity in six years. Vacancy also fell in the second quarter, dropping one percentage point to 8.6 percent, a decline that Cushman projects to continue. Leasing activity fell in the first quarter by just under 30 percent, however, and the report predicts activity to remain flat. The Fort Lauderdale Airport-Dania submarket had a vacancy rate of 4.4 percent in the second quarter, the lowest of any submarket in the county. — Alexander Britell