On average, listings lease in the $40's per square foot per year. The Downtown Fort Lauderdale region is experiencing a an increase in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 4% rise in rent.
Compared to the rest of the Gold Coast market, the Downtown Fort Lauderdale region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 15 listings have been listed, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 220% of the available leases in the Downtown Fort Lauderdale are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,330 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 17 floors. Most buildings in this area were built in 1989 and are Class A.
This region is fairly equally mixed residential and commercial. Real estate is the dominant industry in this area. Most of the residents 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.