jacksonville FL

Industrial: The Northeast Florida Market finished with key fundamentals moving in a positive direction. In 2015 over $325 million in sales transactions (5.6 MSF) closed, the vacancy rate dropped marking a total reduction in vacant space by nearly 35% the past three years and rental rates continue to increase for the third consecutive year. The broad based recovery is anticipated to continue in 2016.

Office: Major market indicators for the Jacksonville Office Market continued a pattern of modest, but steady improvement in 2015, with overall leasing activity reaching levels not seen since before the recession. Absorption, resulting mainly from tenant expansions and intra-market relocation, was particularly strong in the Downtown and Southside submarkets. Rent growth, however, remained inconsistent and limited to the Butler/Baymeadows area.

Office building sales were vigorous within all office classes as investors and users sought to capitalize on low interest rates and hard asset yields.

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JAX Graham Report Industrial 2016

JAX Graham Report Office 2016