Tenant demand within Jacksonville’s financial sector drives up office asking rates

graph showing office asking rates increasing over time from 2012 to 2022 in Jacksonville, Florida due to tenant demand in the financial sector
  • Jacksonville’s office asking rates have increased 4.6% year-over-year to $22.46 per square foot (full service), as of the second quarter of 2023.  
  • Class A asking rates have increased 3.2% year-over-year, surpassing trophy rates, as financial tenants lease highly amenitized suburban offices.
  • Banking, finance, insurance, and real estate tenants account for 22% of the office leases signed over the last two years.

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