Jacksonville Offices Slightly Cheaper To Rent, But Analysts Predict Rents To Rise This Year
In the last quarter of last year, office renters were paying a little bit less, on average, than in the summer and early fall.
Average Jacksonville office rents dropped slightly to an average of $19.55 per square foot, while the vacancy rate tightened to 7.8 percent.
Colliers International believes the drop in rent was a statistical anomaly.
“The reduction in average rent does not align with our experience, as rents have been edging higher for some time now,” the report stated.
In fact, the report forecast a reversal in the rent trend and increased occupancy in the Jacksonville office market in 2019.
"We believe that the strength of the local economy should continue to drive improvements," it said.