Fort Lauderdale Office Market Report

Vacancy tightens as tenants favor modern, well-located properties. With the T3 Fat Village the only major project under construction, which is not scheduled for delivery until 2026, the Fort Lauderdale office market is set to keep tightening in 2025. The metro’s office vacancy fell by nearly 100 basis points in 2024, propelled by sustained leasing activity across key employment districts, such as Downtown and along Broward Boulevard in Plantation. Health care and small legal firms helped maintain steady demand for Class B/C office space here. Meanwhile, suburban areas like Miramar and Coral Springs showed signs of tenants consolidating into high-quality floorplans. These suburbs have seen the strongest net absorption of Class A office space since before the pandemic, driving a more than 100-basis-point drop in local vacancy last year. While downsizing trends in Cypress Creek fueled relinquishments of Class B/C office space last year, local leasing activity remained steady. Over 60,000 square feet of move-ins set for 2025 should aid fundamentals here, led by national architecture firm RS&H’s 10,000-square-foot space.