CBRE Research is pleased to release the Third Quarter 2011 MarketViews covering office property in Florida’s major commercial markets.  Below are key findings of the reports.

Office Properties

  • The Florida office market saw signs of recovery with positive absorption during the third quarter, which kept year-to-date absorption positive for the state.
  • All three South Florida markets experienced increased vacancy during the third quarter while Tampa, Jacksonville and Orlando experienced declines in vacancy.
  • Average asking lease rates continue to remain stable across the state during the third quarter.
  • Developers remain reserved in starting new office product. Only one new project began construction during the third quarter, breaking ground in the Miami market.
  • Office sales activity picked up during the third quarter in spite of volatility in the financial markets.

    To view the full report click here.

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