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South Florida’s Industrial is a strong lure for users

•Active requirements are getting larger in South Florida, a departure from the small tenant base historically present in the market. There are currently 64 active tenants in the market with an average requirement size of 90,000 square feet (the average tenant in South Florida is 40,000 square feet), four of which are actively looking for space above 300,000 square feet. This comes in the heels of out-sized deals recently signed, such as KLX and Telemundo.

•The region has been attracting a growing number of deals from the retailer (e-commerce) and logistics & distribution space, end users are targeting cities such as Doral, Fort Lauderdale and Medley for their expansions plans.

•Fueled by confidence in the market, the combined square footage of companies  looking to secure space by year-end 2017 is almost 3.5 million square feet, against 3.4 million square feet of expected deliveries this year.

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