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Market Report

Fort Lauderdale Office Market Report

2Q 2022

Construction Favors Southeastern Areas;
Lower-Cost Zones Draw Range of Tenants

Southern Broward County targeted for speculative development. Of this year's deliveries, over 400,000 square feet stem from mostly-unleased projects in Hallandale and Hollywood. These completions will expand the Class A supply between the two submarkets by over 50 percent, translating to an acute increase in availability here upon delivery. However, these areas' coastal locations, in tandem with their proximity to Miami-Dade County and I-95, should enhance their ability to attract firms expanding in South Florida, while remaining outside of the urban core. Further mitigating the broader impact of these deliveries, more than two-thirds of space in the active pipeline is preleased, indicating completions will not weigh excessively on vacancy in areas closer to Downtown Fort Lauderdale. Construction should also ease moving forward, as over 70 percent of the square footage underway is scheduled to deliver this year.

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