(Crystal Proenza is associate editor of Real Estate Florida.)

FORT LAUDERDALE, FL-After a major dip in rental rates in 2008, Broward County industrial is in for further market softening. Local market reports show anywhere from an 8% to 11% year-over-year decrease in average rates for 2008.

With the number currently at $8.24 triple net, further compression is expected for this year as landlords make aggressive plays to retain and gain tenants, says Harry Tangalakis, senior vice president with CB Richard Ellis in Fort Lauderdale. However, the active negotiation could cause more deals to close sooner, Cushman & Wakefield reports.

"In addition, building prices will continue to decline, but vacancy could remain stable or only increase slightly because we've had a lot of shakeout from the industries that are going to be most affected at this point," Tangalakis tells GlobeSt.com, citing companies aligned with lighting, electrical and building industries. New construction projects are also projected to decline in 2009 as more than 50% of the 1.8 million square feet of new product delivered to the market in 2008 remains vacant, according to Cushman & Wakefield.