The need for smaller offices remains strong in Fort Lauderdale

graph of Fort Lauderdale office leasing volume and time on market since 2023 by office building size
  • The prevailing trend of smaller office space is here to stay as the strongest tenant demand remains concentrated in office space under 5,000 square feet in Fort Lauderdale.
  • The sector of the market under 5,000 square feet has the shortest duration of time on market with an average of 5.7 months. This sector accounted for 56% of direct new office leasing volume since 2023.
  • In contrast, spaces over 20,000 square feet remain on market for a significantly longer period with an average of 33.2 months. Tenant demand remains soft within this sector of the market representing only 5% of the leasing volume since 2023.

May 29, 2024

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US-FL-FLL Fort Lauderdale