Fort Lauderdale Retail Market Report

Population and employment gains bolster retail performance. Broward County retail businesses have heavily benefited from the influx of new residents moving to the Sun Belt, resulting in a flurry of new leases. Last year, nearly 1.6 million square feet of retail space was absorbed metrowide, the second-highest annual total since 2007. Staffing in the metro's retail trade sector closed out March at levels last recorded immediately prior to the pandemic, and hiring in this sector should constitute a notable portion of this year's employment growth. Furthermore, consumer spending across Southeast Florida markets is projected to increase 9 percent by dollar volume this year, ahead of current inflationary pressures.