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Posted by Jamie Salvatore on October 24, 2017
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By Mike Doyle, CCIM

We are more than halfway through 2017, and the question is: how is the Southwest Florida industrial market performing?
 
With the low vacancy level and rising rents, new industrial space is being built for the first time since the recession.
The largest industrial project is located in southern Lee County, close to I-75, and will provide units 4,500 square feet and up, with some yard space.
 
In short, industrial is very strong and benefits from both residential construction growth and the lack of new product since the recession.
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RENTS

 SALES 

VACANCY

Indicated asking rents have increased by approximately fourteen percent (14%) from one year ago.

 Average sale prices of industrial buildings in Lee County have increased by fourteen percent (14%) during this time frame.

 

 

Vacancies dropped to 2 percent (2%); a significant decrease from the 2016 vacancy level of 4.7%, with positive absorption in all sub-markets.

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