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 M. Sese
http://realestatepress.org