Figures
Broward Industrial Figures - Q1 2025
April 11, 2025 5 Minute Read
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- The Broward industrial market started the year with 34,034 sq. ft. of positive net absorption. However, absorption levels have been on a downward trend since their 2021 peak, signaling a transition to a more moderated market environment.
- After several years of robust development activity, the pipeline has begun to taper, with no new projects breaking ground this quarter. Currently, more than 1.3 million sq. ft. remains under construction in Broward County, with the majority of that concentrated in the Pompano area.
- Over the past year, asking rents rose 4.7%, climbing from $14.79 in Q1 2024 to $15.48 in Q1 2025. Vacancy remained stable, ticking up slightly from 4.0% to 4.1%. With more than 1.3 million sq. ft. of new Class A space set to deliver in 2025, rents are projected to see continued, moderate growth in the coming quarters.