Fort Lauderdale Retail Market Report

Retailers view local population trends favorably. A second consecutive year of Fort Lauderdale welcoming over 20,000 residents on net should keep retailers’ interest elevated, being the first time this occurred since 2013. As a result, net absorption in 2023 is projected to exceed the trailing half-decade average of 460,000 square feet, chipping away from the market’s vacant stock. Completions are also slowing down, as the amount of space underway in October was smaller than nearly every calendar year dating back to 2007. The combination of these factors are positioning marketwide vacancy to fall at the second-fastest pace among major metros in 2023.