Industrial continues to be a break-out sector for South Florida as investors target the region due to increased consumer spending and growing e-commerce sales. Vacancies in South Florida are relatively tight, ranging from 1.3 percent (Naples) to 3.8 percent (Fort Lauderdale). There is strong demand for each market and pronounced construction throughout, with the exception of Palm Beach (908,678 square feet). Rent growth is astounding across the board, with the smallest increases in Palm Beach (9.9 percent year-over-year rent growth), and the largest increases recorded in Miami (18.8 percent). Despite the land constraints creating barriers to build scalable projects, that hasn’t stopped almost every market in the area from achieving record-breaking sales.