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Q4 2019 Broward Office Market Report

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Market fundamentals indicate a stable office market in Broward County at the close of 2019. Gross rental rates increased 5 percent to $32.06 per square foot, construction is at its highest rate since 2006 with 1.8 million square feet underway, and vacancy rates have remained relatively stable since the beginning of the year. However, net absorption recorded a negative amount in 2019, creating new opportunities for landlords and tenants alike. Despite the overall negative absorption, a number of major leases were signed in 2019 including Sunshine State Health Center in Plantation (145,000 SF), Ultimate Software in Sunrise (100,000 SF), Hayes Locums in Fort Lauderdale (72,500 SF) and Bolton Medical in Sunrise (48,600 SF). While the majority of the leasing activity has been the result of smaller (3,000 to 10,000 square foot) tenants, a number of notable larger tenants have taken space throughout the County, particularly in the Southwest Broward submarket.


BCOffice4Q2019

Q4 2019 Broward Office Market Report

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Verity Mosquera

Research and Consulting Manager

Fort Lauderdale

As Research and Consulting Manager in the South Florida market, I apply my experience in analytics, leadership and international business to monitor the global economy and make projections that help guide our brokers and clients in strategic decision making. My expertise in both leasing and investment sales ranges across multiple asset types including retail, industrial, office and multifamily.  

Prior to joining Colliers, I worked for The Washington Economics Group, Inc., where I led a team of eight economists as Manager of Client Services to prepare detailed economic impact analyses of a number of high-profile transportation and real estate projects in South Florida, including SkyRise Miami and All Aboard Florida. Other notable South Florida clients that I have worked with include Tate Capital, Odebrecht, Miami-Dade Expressway Authority and the International Speedway Corporation. Prior to moving to the United States in 2011, I graduated from law school and was a data analyst for Equity Insurance in Brentwood, UK.

I am active in the commercial real estate community through multiple organizations and committed to strengthening the participation of young leaders in the real estate sector through my current role as Co-Chair of the Urban Land Institute’s Young Leadership Group.

I also have a strong passion for teaching and mentoring students to help prepare them for careers in commercial real estate. I served as an adjunct professor for Miami Dade College School of Business teaching Principles of Management to undergraduate students pursuing their Bachelor’s degree in Business Administration and have recently served as a guest lecturer at Florida International University’s Tibor and Hollo School of Real Estate teaching market research skills to graduate students in the Masters in Science in International Real Estate (MSIRE) program. 

While earning my MBA at St. Thomas University, I served as president of Future Business Leaders of America - Phi Beta Lambda and spoke numerously on business and women career issues. St. Thomas University awarded me with the Outstanding Graduate Award and the Women in Leadership Award in recognition of these efforts.

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