Industrial lease deals in South Florida are getting larger and happening more frequently, commercial brokers say.
Erin Byers, vice president of Colliers International South Florida said leased spaces have grown over the past five years. The top 10 deals five years ago would only sometimes hit the 100,000-square-foot mark. “Now, almost all the deal sizes are in the 80,000 square foot range and up,” she said.
CBRE’s Tony Hoover sees a similar trend. He represented tech startup ShipMonk in its recent 170,447-square-foot lease deal at Bridge Point Riverbend, a speculative 221,542-square-foot industrial building close to completion in Fort Lauderdale. Byers represented the landlord.
“Building a speculative 220,000-square-foot project sounds risky, but there’s a market there to absorb it,” Hoover said.
Here, The Real Deal breaks down this year’s five largest industrial lease deals in South Florida, ranging from 200,000 square feet to about 257,000 square feet. The data is from Colliers International South Florida.