Demand Still Strong for Industrial Product in Broward County

Tom Viscount

Avison Young recently negotiated 133,140 square feet of industrial lease transactions in Broward County, Florida. That continues a trend from 2019. Avison Young’s year-end 2019 Broward County industrial report indicated that West Broward posted the lowest vacancy rate in the county at 2.1%. Nearly 2.7 million square feet of new industrial space was completed in the county, of which 1.1 million square feet alone was delivered in Pompano Beach. The submarket still saw 456,773 square feet of net absorption, indicating robust demand.

“We are seeing the same trends that have been affecting the market the last couple of years,” Avison Young Principal Tom Viscount tells GlobeSt.com. “The logistics industry and e-commerce are the main contributors. We are seeing a little less manufacturing than before, but it’s really of no concern because logistics and e-commerce continue to fuel the growth. 2019 was a great year for industrial all-around.”