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United States | Jacksonville, FL

Report | Jacksonville Office Insight - Q4 2015

Summary

Jacksonville’s office market thrived in 2015 as both major submarkets saw big occupancy gains—despite a Q4 slowdown—and 2016 could see even greater growth if positive absorption continues as we expect.

While the market will continue to move towards landlords, there are still multiple large blocks in the CBD for tenants to grab that offer competitive rental rates in this rising market.

Overall, the city’s favorable business climate and large, qualified workforce are giving many new companies enticing incentives to relocate here from other larger markets—and they are doing just that.

The local unemployment rate recently fell to 4.8 percent—20 basis points below the national average.

Learn more about what’s happening—and what we expect to occur in the coming months—in the Jacksonville office market in our Q4 US Office Insight.

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