Tenant demand for smaller office space in Fort Lauderdale surges post pandemic

graph of office leasing activity by office space size in Fort Lauderdale before and after the pandemic
  • Since the beginning of the pandemic, there has been a notable 15% increase in the number of leases signed for office spaces measuring less than 10,000 square feet.
  • Among the industries that are downsizing their office footprints, the top sectors include banking, finance, insurance, and real estate, accounting for 32% of the downsizing activity post pandemic. Additionally, biotech, life science, pharma, and healthcare contribute to 14% of the downsizing, while law firms account for 12%.
  • Tenant demand for smaller move-in-ready spaces is rapidly increasing, rendering full floor availabilities obsolete.

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US-FL-FLL Fort Lauderdale