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Market Report

Fort Lauderdale Retail Market Report

3Q 2022

Broward County Well-Positioned for Sustained
Long-Term Retailer Space Demand

Occupancy returns to pre-pandemic level. Strong population growth and historic levels of domestic tourism are fueling demand for retail space in Fort Lauderdale. The vacancy rate decreased by 150 basis points over the past six quarters ended in June to 4.4 percent — equal to the year-end 2019 rate. Leasing activity has been most pronounced in Hallandale, Hollywood, Plantation, Pompano Beach and Southwest Broward, with tenants taking more than 100,000 square feet off the market in each of these five locales during the trailing 12-month period ending in June. Looking ahead, net in-migration is expected to accelerate over the next decade, bolstering the metro's consumer base. Additionally, easing travel restrictions will drive more international tourism, augmenting the market's record amount of hotel room night bookings over the past year ending in June. These factors indicate retailer demand in Fort Lauderdale will likely remain elevated for the foreseeable future.

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