Higher quality buildings attract larger leases in Fort Lauderdale

– Over the past 5-years, Trophy and Class A office buildings in Fort Lauderdale have attracted larger leases on average than Class B buildings. Midway through the third quarter of 2024, Trophy and Class A buildings have an lease size of 9,573 square feet while Class B buildings average 5,591 square feet.

– Out of all leases signed greater than 10,000 square feet in 2024, 67% have been in Trophy and Class A buildings, while just 33% have been in Class B properties.

– The market continues to experience a flight to quality, with tenants increasingly focused on top-tier buildings. This trend is driven by efforts to attract exceptional talent, promote a return to the office, and optimize space requirements in line with the widely adopted hybrid work model.