The typical asking rate per listing is in the $30's per square foot per year. The Downtown Fort Lauderdale submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 15% decrease in rent.
Compared to the rest of the Gold Coast market, the Downtown Fort Lauderdale submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have come on the market, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 100% of the available leases in the Downtown Fort Lauderdale are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,840 sqft. Most properties in this area are around 17 stories. Most buildings in this market were built in 1989 and are Class A.
This area is fairly equally mixed residential and commercial. Real estate is the dominant industry in this area. Most of the occupants of Downtown Fort Lauderdale work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.