Broward Industrial Market 9% Vacant as Buyers/Tenants Stay Cautious

MIAMI -The Broward industrial market continued showing strong signs of growth in the second quarter, even though the southwest submarket reached a 16.3% vacancy level, according to a second-quarter study by Cushman & Wakefield of Florida Inc.

The county has a 9% overall vacancy level with 1.35 million sf of new space completed and one million sf under construction.

“It would be naïve to say there isn’t a level of cautiousness on the part of buyers and tenants,” Richard Etner, senior director of industrial brokerage at Cushman & Wakefield, tells GlobeSt.com. “But the attractiveness of being in between Palm Beach and Dade county, together with the population here is what keeps the strong demand going.”