The market continues to show its resiliency as construction prevails as the driving force in the area.
The Fort Lauderdale and Miami industrial market consisting of over 300 million sq. ft. of product, saw no change in
the vacancy rate at 4.6% from last quarter, shedding 130 basis point from a year ago. The average
asking lease rate remained virtually unchanged at $4.02 per-sq.-ft. NNN and reported an increase of
$0.33 from a year ago.