Fort Lauderdale Industrial Investment Forecast
Industrial Properties Gain Prominence in Broward County;
Investors Elevate Activity
Conditions tighten as economy heats up. An improvement in the local tourism sector will help the county recoup all the jobs lost during the recession providing an additional boost to local industrial properties. The leisure and hospitality sector still accounts for roughly 25 percent of the unrecovered positions and a resurgence in the cruise industry will be necessary to fully repair the local economy. Last year the number of cruise ship calls at Port Everglades was only 23 percent of the level recorded in 2019. Despite the slow recovery in the important tourism sector industrial fundamentals are performing better than prior to the health crisis. Occupancy and rents continue to move higher as pandemic trends such as online shopping have taken a foothold necessitating warehouse and distribution space. Further improvement is anticipated this year as local businesses welcome back visitors to the area requiring an increase in inventory.