The 3.7 million-sf Fort Lauderdale central business district emerged with the lowest vacancy level in 2001 at 16.92%. "However, this market is not without its concerns," notes RealData research director William R. Hemingway. "Another 411,367 sf are under construction with expected completion by year end, potentially dropping the occupancy rate to 81% (19% vacant)."
West Broward submarkets are bleeding with a 23% vacancy level for non-sublease space and a 26.7% vacancy mark with sublease included.
The largest amount of vacant space, 757,615 sf, is in the Sunrise, FL submarket. Plantation, FL is next with 431,670 sf of non-tenant premises.
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