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Market Report

Fort Lauderdale Office Market Report

4Q 2023

Demand for High-Quality Floor Plans is Robust in
Certain Submarkets, While Absent in Others

Class A segment accounts for majority of leasing. Fort Lauderdale recorded negative net absorption of 204,000 square feet during the opening half of 2023. Concurrently, the Class A sector noted positive net absorption of 138,000 square feet, putting vacant stock in that segment at a four-quarter low in June 2023. Demand for higher-end offices has been most pronounced in Plantation, which boasted the market’s second-tightest Class A vacancy in the second quarter, at 16.3 percent. In June, global toy manufacturer Jazwares moved into a 133,000-square-foot spot in the submarket. The Federal Aviation Administration also took up 63,000 square feet nearby in May. With limited Class A space in the active pipeline here, existing top-tier assets should continue to capture leasing. Class B/C office demand has, meanwhile, been the strongest in the urban core and Hollywood.

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