Tenant demand within Jacksonville’s financial sector drives up office asking rates
![graph showing office asking rates increasing over time from 2012 to 2022 in Jacksonville, Florida due to tenant demand in the financial sector](/documents/35486/96633304/Jacksonville+data+bite+5-9-23.png/7e1c433c-1501-bd67-e509-33a915be3730?t=1683670545791)
- Jacksonville’s office asking rates have increased 4.6% year-over-year to $22.46 per square foot (full service), as of the second quarter of 2023.
- Class A asking rates have increased 3.2% year-over-year, surpassing trophy rates, as financial tenants lease highly amenitized suburban offices.
- Banking, finance, insurance, and real estate tenants account for 22% of the office leases signed over the last two years.
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