Fort Lauderdale Figures Report - Q1 2026

The office market in Q1 2026 showed softer quarterly activity but continued multi-year tightening in vacancy despite demand volatility. Vacancy increased 30 basis points quarter-over-quarter to 18.6% but remained 10 basis points below Q1 2025 and 130 basis points below Q1 2023. This was due to a few large move outs in the western Broward suburban submarkets.

Pricing continued to move higher. The average asking rate reached $28.16 per sq. ft. in Q1 2026, up 2.6% quarter-over-quarter, 6.9% year-over-year, and approximately 21.8% above Q1 2020. Construction remained modest, with 177,000 sq. ft., in Fat Village which is being developed by Hines, under way and no new deliveries since the 50,000 sq. ft. Southeast Broward building completed in Q3 2023. The last major office delivery was Optima Onyx which delivered 300,000 sq. ft. in 2021.

Overall, Q1 2026 was characterized by sustained rent growth and some negative large block absorption. The market did see modest improvement in availability over the past year and there is limited new supply in the pipeline.