Posted on May 17, 2016 ยท Posted in Industrial / Flex, Investments

The statewide vacancy rate dropped below 6 percent in the first quarter for the first time since 2006, according to CBRE. The freight transportation sector expanded rapidly, pushing the average rate down to 5.8 percent.

South Florida closed the quarter with a vacancy rate of 4.1 percent.

Industrial transactions were up in all major markets from 2014 to 2015, with the most growth in sales volume seen in Broward County and Orlando. But sales volume tapered during the first quarter compared with the last quarter of 2015.

“In 2016, the market will look to developers to respond to the increasing demand for new industrial space thanks to improving fundamentals and end-user requirements for efficient buildings in the face of an abundance of existing stock that is obsolete,” the CBRE report stated.

 

Source: DBR

About the Author