Colliers International Market Reports | Third Quarter 2020
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Snapshot

Retail  |  The third quarter of 2020 welcomed looser government mandated restrictions put in place to stop the spread of the coronavirus. As consumer confidence grows, and retail sales increase, interest in  the  resilient  Miami-Dade, Palm Beach, Broward  County retail market  is  expected  to  return.

Industrial  |  Despite  Industrial  being one  of  the  few  asset classes that  saw  an initial increase in demand, talks of a COVID-induced recession and struggling tenants have taken a  toll on Palm Beach  County’s  industrial  leasing activity, and Miami-Dade County's industrial rental rate and inquiries from new tenants. In Broward County, the  marginal decrease  in  rental  rates  and steady rate of leasing activity reflects the perseverance of the  market, although concerns are rising over recession woes and a forecasted weakened demand. 

Office  |  In the third quarter of 2020, sublease deals and lease renewals saw increased interest from tenants as they continue to re-evaluate their spaces and business plans post-pandemic. In Broward County, the amount of sublease space increased 13.4% from last quarter, while Miami-Dade and Palm Beach County saw 42% and 43% respectively.
 

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  • Regional Market Transactions & Highlights
  • Miami-Dade, Broward, and Palm Beach counties
  • Vacancy & Absorption Rates
  • Notable Leasing Activity
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  • Submarket & County Breakdowns
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