The office market in South Florida is showing varied momentum across its regional hubs. In Broward County, rents are moving upward, while in Palm Beach County performance is more modest but steady.
Broward County
Office asking rents in Broward rose about 2.8 % year-over-year, reaching an average of approximately $41.96 per square foot at the end of Q2 2025.
Vacancy in the county’s office market stood at roughly 16.0 %, up slightly from the prior year.
Leasing activity has softened—with the year-to-date net absorption showing a loss of about 138,355 square feet—yet investor interest remains strong, particularly in high-quality or downtown assets.
Sub-markets like the downtown Fort Lauderdale CBD saw average asking rents climb to nearly $54.96 per square foot, underscoring the premium for better-located, newer office product.
On the development side, the pipeline is limited—there is currently one notable office project under construction – T3 Fat Village East – (±174,790 square feet) which is scheduled for delivery in 2026.
Palm Beach County
In Palm Beach, the office market is more stable. Vacancy is notably lower—hovering around 9 %—and growth is being driven by demand for newer, amenity-rich Class A buildings in well-located sub-markets.
Asking rents for Class A office space in Palm Beach are reported around $40-43 per square foot gross, reflecting moderate but consistent expansion.
Given the limited new supply, the outlook is cautiously optimistic: demand is expected to support moderate rent growth while occupancies hold steady.
