Jacksonville office market reports

Q4 2024

In 2024, Jacksonville office asking rates rose by 2.9%, reaching $23.36 per square foot. Leasing activity for the year reached just over 1.6 million square feet, a 13% decline compared to 2023. Office net absorption recorded -118,299 square feet in the fourth quarter of 2024, reflecting ongoing space reductions.
19.2%

Vacancy rate

Office vacancy rates rose by 70 basis points year over year, primarily driven by space contractions, which continue to add vacancy to the market.

$23.36 psf FS

Average lease size

In 2024, office asking rates rose by 2.9%, reaching $23.36 per square foot.

-118,299 sf

Net absorption

Office net absorption recorded -118,299 square feet in the fourth quarter of 2024, reflecting ongoing space reductions.

Your source for the latest Jacksonville office market reports

Get in-depth office market reports from commercial real estate experts in the Greater Jacksonville area. Avison Young advisors look at Jacksonville commercial real estate activities and the latest Jacksonville statistics to provide you expert market research on Jacksonville's office properties.

Explore different topics like the latest office market pricing trends and analysis of Jacksonville's current office real estate market conditions. Gain a better understanding of Jacksonville’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 Jacksonville's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Jacksonville.

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