No Vacancy for Apartments in South Florida

Patience is a virtue. You need patience if you are looking for an office, apartment or warehouse.

According
to the Realtors group, Broward has the nation's lowest second-quarter
apartment vacancy rate, 1.7%. The county also has the third-lowest
industrial vacancy, 5%, and the fourth-lowest office vacancy, 8.6%.

On
the other hand, Palm Beach County has the lowest industrial vacancy,
3.8%, the fourth-lowest apartment vacancy, 2.2%, and the ninth-lowest
office vacancy, 9.7%.

Broward and Palm Beach
counties' retail vacancies rank well below the national average of
7.7%, but the two counties aren't among the nation's 10 tightest
markets. Miami-Dade has the nation's second-lowest retail vacancy at
2.6%

Rents are increasing 13% to 28% across South
Florida. High-profile office space in downtown Fort Lauderdale now
rents for $32 to $35 a square foot a year, including expenses. In
downtown West Palm Beach, the rates are $28 to $35 a square foot.

By Mabelle Sese
Miami Real Etate