Office

2014 Q2: The tenant’s market is (maybe) changing: For over five years Jacksonville has been in an understood ‘Tenant’s Market’ as high vacancy rates and shrinking demand made every transaction significant. However, continued job growth (area employment rate at 5.8%), lower vacancy rates and a total lack of any new development in the pipeline has allowed select landlords to begin holding the line on lease rates, tenant build-out allowances, and overall concessions. Asking lease rates in Class-A suburban buildings are once again over $20.00 per sq. ft., and more importantly – landlords are getting them…

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