Jacksonville office market reports
Q4 2022
Return-to-office rates have begun to plateau ending 2022 at 46% recovery. The trend of downsizing footprints and giving up space has continued as available office space increased by 25.7%. New office developments have come to a halt with no new inventory under development and only one office development expected to break ground in 2023.
Office attendance
Jacksonville’s office recovery rate in December was 46.2% when compared to the week before the pandemic lockdown.
Sublease availability
Office sublease availability spiked in 2022 by 25.7% year-over-year as of December.
Under construction
There are currently no office buildings under construction in the Jacksonville market as economic headwinds put constraints on developers.
Leasing volume
Jacksonville’s office market saw an increase in leasing volume year-over-year, resulting in 1.4 million square feet (msf) leased throughout 2022.
Unemployment
Jacksonville’s unemployment rate reached 2.5% as of November, falling below pre-pandemic levels.
Investment sales
Rising interest rates impacted office investment sales, resulting in a 19.5% decrease year-over-year.
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.
The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.