Gainesville office market report
Gainesville’s office market remains healthy with a significant uptick in leasing activity and office development. Although sublease space came back onto the market in the latter half of the year, direct vacancy has been on the decline and fundamentals are strengthening.
There is currently 76,250 square feet (sf) of office space under construction in Gainesville, all of which is within in the Alachua/Life Science submarket.
Job postings within the banking, finance, insurance and real estate sector grew 5.6% year-over-year.
Gainesville’s unemployment rate as of November 2022 was 2.6%, dipping below the pre-pandemic level of 2.7% in November 2019.
Sublease vacancy as a percent of inventory increased 80 basis points year-over-year to 1.7%.
Direct asking rent
Since year-end 2021, direct average asking rent in Gainesville is up 6.1% at $21.04 per square foot (psf) (FS).
VC funding raised $10.5 million within the tech sector in Gainesville during 2022.
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Get in-depth retail market reports and insights from commercial real estate experts in the Greater Gainesville area. Avison Young advisors look at Gainesville commercial real estate activities and the latest Gainesville statistics to provide you expert market research on Gainesville's retail properties.
Explore different topics like the latest retail market pricing trends and analysis of Gainesville's current retail real estate market conditions. Gain a better understanding of Gainesville’s retail real estate outlook and stay ahead of current retail space trends. Make smart decisions when it comes to investing in retail properties in Gainesville's competitive retail real estate market. Avison Young is your trusted source for commercial real estate retail market insights in Gainesville.
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