Study Ranks South Florida Industrial Market Third In Region For Largest Net Absorption

HFF has recently released a logistics & industrial report that focuses on the 16 largest MSA’s in the Southeastern United States.
The massive study uncovered several key data points relative to industrial owners.  For example:
– South Florida ranks third in the region behind Charlotte, NC and Richmond, VA for the largest net absorption as a percentage of its inventory.  South Florida absorbed roughly 1.8% of its inventory in 2013 which translates into a very healthy economic recovery.  Only two regions, Birmingham, AL and Charleston, SC had negative absorption in 2013.
– Each MSA in the state of Florida has the largest decrease of current asking rents from their peak levels in 07/08.  Palm Beach county is still off 21%, Dade is off 16% and Broward County is off 15%.  This is good news for buyers as rental rates still have a lot of room to run before they return to peak levels again.
– When focusing in on just higher quality industrial product, the South Florida MSA has NEVER had a trailing 4 quarters of negative absorption.  It is one of only 5 MSA’s studied that can support this claim and is a true testament to the strength of the region.
The report also has detailed overviews of the major sea, air and rail hubs throughout the region as well as specific trends in each MSA.
To obtain a copy of this report, please contact Marty Busekrus at mbusekrus@hfflp.com.