Fort Lauderdale Office Market Reports | Avison Young US - Fort Lauderdale
Fort Lauderdale office market reports
At the end of August, Fort Lauderdale's unemployment rate stood at 3.1%, remaining lower than the national U.S. unemployment rate of 3.8%. Year over year, financial activities occupations experienced a 4% growth, while information jobs decreased by 0.5%. The office market experienced a remarkable surge in demand during the third quarter, marked by several factors. Key trends in the third quarter include an increase in leasing activity for top-quality product, market conditions driving tenant incentives, and an inflow of large block expirations on the horizon.
Top-tier asset leasing activity
At the end of the third quarter, trophy and class A assets accounted for over 73.9% of office leasing activity in 2023.
Difference in rents
Landlords of top-tier asset properties are implementing strategic rental concessions, resulting in a $2.84 variance between base and net effective rents.
Large block lease expirations
Over the next 48 months, there are at least 1.9 million square feet of leases over 20,000 square feet set to expire.
Your source for the latest Fort Lauderdale office market reports
Get in-depth office market reports from commercial real estate experts in the Greater Fort Lauderdale area. Avison Young advisors look at Fort Lauderdale commercial real estate activities and the latest Fort Lauderdale statistics to provide you expert market research on Fort Lauderdale's office properties.
Explore different topics like the latest office market pricing trends and analysis of Fort Lauderdale's current office real estate market conditions. Gain a better understanding of Fort Lauderdale’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Fort Lauderdale's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Fort Lauderdale.
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