Figure

Fort Lauderdale Office Figures - Q2 2023

July 11, 2023 5 Minute Read

Looking for a PDF of this content?

Download

  • Direct office vacancy has decreased by 70 basis points from 18.1% year-over-year with availability rate hovering at 23.4%, which is down from 25.0% this time last year.
  • Overall asking rents in the county are up by 10.5% compared with pre-pandemic levels in Q4 2019 to $25.23/sq. ft. (NNN), which is a record high and the first time rents eclipsed the $25.00 mark.
  • The development pipeline remains limited with only one building under construction, which should help continue the trend of declining vacancy and increasing rents.