Jacksonville office market reports
With a 12% increase from the fourth quarter of 2022, the Jacksonville office market is experiencing a second influx of sublease availability. In contrast, leasing activity dipped to the second lowest point post Covid as 280,000 square feet was leased in the first quarter, down 13%. In Jacksonville, there is $104 million worth of office loans maturing in 2023.
A second wave of sublease availability could be on the horizon as class A sublease space increased by 24% from the fourth quarter of 2022.
Florida has $1.6 billion in office loans maturing over the next five years. Jacksonville represents the third-highest city with $318 million.
Quarterly leasing demand has softened to early pandemic levels at only 3% higher than the second quarter of 2020, and down 13% from December.
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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