Scroll Down

Market Report

Jacksonville Office Market Report

Second Quarter 2019

Suburban Office Space Remains Highly Sought After; Construction Hits Cyclical High

Corporate footprints support sustained strength of suburban office markets. Tightening vacancy and steady rent growth will remain staples of the Jacksonville office market this year. An expanding healthcare sector and increasing number of professional services jobs will keep office space demand robust, especially in the southern parts of the metro, where the majority of the area’s high-profile businesses operate. Companies like Fidelity Investments and Southeastern Grocers support office demand throughout the I-95 corridor as businesses seek space in prime locations near industry heavyweights. Mandarin is also expected to witness vigorous demand moving forward as the area’s quickly expanding population helps attract more companies, giving them a growing talent pool from which to recruit. Here, asking rents will sit on a gradual incline, staying aligned with the overall metro average.

Related Research

Back to top