Broward Office Figures Q3 2021

22 oct. 2021

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  • Broward County closed the third quarter with positive 76,700 sq. ft. of absorption –the first positive quarter since 2019.
  • Several new-to-market transactions were completed this quarter including two large subleases. This resulted in a 20-bps decline in sublease vacancy (quarter-over-quarter) to 2.5%.
  • Asking rents continue to rise, propelled by the Class A set. Many tenants, both existing and new-to-market, are looking for quality product, in part, to promote a return to the office.