The time is right to invest in starting or growing a business in Hollywood with prime locations that will give you a leg up on your competition and get your products and services to market faster and at a lower cost.
Hollywood Florida offers all the amenities and resources national and international companies seek when looking for a location to call home.
Hollywood Office Market
The Hollywood Office Market ended the second quarter 2017 with a vacancy rate of 6.2% The vacancy rate was down over the previous quarter (Q1 rate of 6.7%), with net absorption totaling positive 28,827 square feet in the second quarter. Rental rates ended the second quarter at $27.04, an increase over the previous quarter of $26.63.
- The average quoted rate within the Class A sector was $33.84, while Class B rates stood at $29.56, and Class C rates at $22.52.
- Rental rates in Hollywood are on par with Broward County yet remain competitive with the County's Central Business District, where according to CoStar, the quoted asking rental rate was $38.12.
Download a copy of the Office Market Summary Analysis.
Hollywood Industrial Market
The industrial market in Southeast Florida remains competitive. Vacancy rates in the Hollywood industrial market have trended below 4% with average asking rents at $9.89. Net absorption was positive 89,860 square feet in the second quarter.
Tenant interest has grown in the prime industrial park areas of Hollywood including the South Florida Industrial Park and the Port 95 Commerce Park. Most notably was the grand opening of Quantum Marine's Headquarters in the first quarter of this year, and the announcement that Sintavia, a metal additive manufacturer will build their headquarters in Hollywood.
Hollywood's industrial sites are populated by a wide variety of business sectors that include aerospace companies, advertising agencies, uniform and facility services providers and architectural and interior design firms. An eclectic cluster of high end design firms have formed the South Florida Design Park which features Jerry Pair, Stark Carpet, Scalamandré, Stephen Turner, J Nelson, Judith Norman Now, Snaidero, and Florida Blinds & Drapery among others.
Download a copy of the Industrial Market Summary Analysis
|NNN Rent per SF||$9.89||$8.13|
Hollywood Retail Market
Interest in Hollywood’s urban and suburban core retail market from national tenants continues to grow at a steady and sustainable pace. The Place at Hollywood, a Wal-Mart anchored shopping center, continues to redevelop on Hollywood's west side, bringing additional national retail brands this major commercial corridor. Retail vacancy rates have trended lower than 5% in the current quarter while average asking rents continue to see strong growth year-over-year.
Florida’s Hollywood, voted one of the nation’s top 25 beach destinations by TripAdvisor®, continues to attract tourists from around the world. This consistent influx of visitors creates a steady demand for quality retail and entertainment options.
Download a copy of the Retail Market Summary Analysis
|NNN Rent per SF||$19.80||$18.67|