Jacksonville Retail MarketView Q3 2019

October 29, 2019

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  • Jacksonville’s retail vacancy rate decreased 70 basis points (bps) year-over-year from 4.4% in Q3 2018, down to 3.7% at the close of the quarter. 
  • Average asking lease rates also decreased during that time period falling 2.5% to $14.25 at the close of Q3 2019 but remained flat quarter-over-quarter.  
  • With almost 1.5 million sq. ft. of year-to-date net absorption through Q3 2019, look for the Jacksonville retail market to remain strong.