On average, listings lease in the $30's per square foot per year. The Downtown Fort Lauderdale submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $8 per sqft per year. That's a 27% 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 pay a premium to be in this hot submarket.
In the last 90 days, 30 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 10% of the listings in the Downtown Fort Lauderdale are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 5,580 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 17 stories. Most buildings in this area were built in 1990 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.