Broward Office Market
Annual full-service asking rental rates increased slightly by 0.9% quarter over quarter to a new all-time-high of $38.56/SF. Vacancy dipped by 10 basis points quarter over quarter to 14.8% as demand strengthened and supply remained stagnant. There is one 174,790-SF project currently under construction, the office portion of T3 FAT Village East developed by Hines is slated to top-off in the Fall and the building is expected to deliver by end of 2025. Total leasing activity for the third quarter was 750,790 SF, reflecting a 6.0% increase from the previous quarter. The average lease size rose by 51 SF to 3,052 SF during the same time-period.
Broward Industrial Market
The market recorded 27,714 SF of negative absorption in the third quarter of 2025, spurred by multiple mid-sized move-outs. However, demand year-to-date remains positive at 109,266 SF. Deliveries totaled 158,855 SF in the third quarter of 2025. Despite supply outpacing demand, the vacancy rate remained unchanged at 4.7% quarter over quarter. Overall asking rental rates in the third quarter of 2025 fell by 3.9% year over year to $14.90/SF, down 8.2% from the all-time high of $16.23/SF. In the third quarter of 2025, the under-construction pipeline expanded to 1.4 MSF. Projects under construction are currently 22.0% preleased.
Download Broward Industrial Market Report 3Q25