Fort Lauderdale Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $34.54 2024 Avg. Asking Rent
  • 18.84% 2024 Office Vacancy Rate
  • $140.4M2024 Total Office Sales
  • $178.68Avg. Sale Price/SF

Fort Lauderdale office price per square foot in 2024 was $34.54 on average. The local office market recorded an average vacancy rate of 18.84% across all asset classes combined. The 13 transactions that closed here throughout 2024 amounted to a total sale volume of $140.4M. Fort Lauderdale office space commanded an average sale price per square foot of $178.68.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Fort Lauderdale Class A & A+ Office Space$42.11
  • Fort Lauderdale Class B Office Space$28.15
  • Fort Lauderdale Class C Office Space$22.20
  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Fort Lauderdale, FL Office Asking Rents by Class

Average office rent in Fort Lauderdale rested at $34.54 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Fort Lauderdale averaged $42.11 per square foot. Across all submarkets, class B office space recorded an average asking rent of $28.15 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.20 per square foot, on average. Comparably, statewide Florida average office rents by class in 2024 were: $40.20 per square foot for class A office space; $27.71 per square foot for class B office space; $22.62 per square foot for class C office space.

2024 Office Vacancy Rates in Fort Lauderdale

Submarket Asking Rents Vacancy Rates
Fort Lauderdale - Central Business District $52.88 17.62%
Fort Lauderdale - Central $40.61 26.04%
Plantation $39.51 10.63%
Fort Lauderdale - West $38.41 4.84%
Pembroke Pines $37.09 14.16%
Fort Lauderdale - South $35.45 12.71%
Weston $35.01 18.61%
Fort Lauderdale - North $27.99 18.95%
Sunrise $24.70 11.52%
Tamarac $22.93 56.77%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Fort Lauderdale market was 18.84% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Fort Lauderdale was 4.84% in the Fort Lauderdale - West submarket, while the highest office vacancy in the market was 56.77%, recorded in Tamarac.

Office Spaces for Rent in Florida

Fort Lauderdale Office Sale Price per SF

  • $178.682024 Avg. Price per SF
  • 4.56%Y-o-Y Avg. PpSF Change
  • $140.4M2024 Office Sales Volume
  • 132024 Number of Transactions

Fort Lauderdale, FL Sale Price per SF Trend

  • Fort Lauderdale Avg. Sale Price per SF in 2024$178.68
  • Florida Avg. Sale Price per SF in 2024$221.95
Fort Lauderdale office space cost in 2024 marked a +4.56% change compared to the previous year. The sale price for office space in Fort Lauderdale averaged $178.68 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Florida average office sale price during the same time period was $221.95 per square foot.

2024 Office Sales Volume

  • Fort Lauderdale, FL Total Office Sales Volume in 2024 $140.4M
  • Fort Lauderdale, FL Total Number of Office Sales Closed in 2024 13
A total of 13 deals closed on the Fort Lauderdale office market in 2024, adding up to a yearly sales volume of $140.4M. Notably, the largest transaction on the market saw Citrix Corporate Headquarters change hands for $37,000,000 on 8/29/2024.

Largest Fort Lauderdale Office Sales in 2024

Property name Address Date Price
Citrix Corporate Headquarters 899 West Cypress Creek Road 8/29/2024 $37,000,000
Commercial Place I & II 3230 West Commercial Blvd 8/6/2024 $26,000,000
Bond, The 105 North Federal Hwy 10/23/2024 $19,000,000
Anglers Corporate Center 5555 Anglers Avenue 11/15/2024 $14,036,700
Financial Solutions Tower 2950 West Cypress Creek Road 8/2/2024 $9,250,000
Data provided by Commercial Edge

Coworking Spaces in Florida

2024 Office Construction in Fort Lauderdale, FL

  • Fort Lauderdale, FL Total SF completed in 2024 21,870
  • Fort Lauderdale, FL Total SF under construction in 2025 90,151

During 2024, 21,870 square feet of new office space were delivered across the market. At the close of 2024, the Fort Lauderdale office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 21,870 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 90,151 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Fort Lauderdale
Office building Address SF Completed
New Construction Office & Retail 1506 NE 4th Ave, 33304 1,920 2024
The Main Las Olas 201 E Las Olas Blvd, 33301 387,402 2020
221 SW 1st Avenue 221 SW 1st Avenue, 33301 5,907 2020
The 550 Building 550 South Andrews Avenue, 33301 101,840 2019
The Bond 105 North Federal Hwy, 33301 36,200 2019
201 SE 12th St 201 SE 12th St, 33316 7,118 2018
1801 SE 3rd Ave 1801 SE 3rd Ave, 33316 5,000 2018
Courthouse Place 12 SE 7th Street, 33316 64,499 2008
Ground Floor Office/Retail in Flagler Village 315 NE 3rd Ave # Cu103, 33301 2,960 2008
Bank of America Plaza 401 E Las Olas Blvd, 33301 408,079 2002

Worth noting among recent office completions on the Fort Lauderdale market is New Construction Office & Retail, which is currently the largest new office development in the city, at 1,920 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Fort Lauderdale commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.