Jacksonville Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $22.70 2024 Avg. Asking Rent
  • 0.93% Y-o-Y Avg. Asking Rent Change
  • 18.36% 2024 Office Vacancy Rate
  • $219.3M2024 Total Office Sales
  • $92.74Avg. Sale Price/SF

Jacksonville office price per square foot in 2024 was $22.70 on average. This marked a +0.93% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.36% across all asset classes combined. The 18 transactions that closed here throughout 2024 amounted to a total sale volume of $219.3M. Jacksonville office space commanded an average sale price per square foot of $92.74.

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

  • Jacksonville Class A & A+ Office Space$23.84
  • Jacksonville Class B Office Space$21.22
  • Jacksonville Class C Office Space$14.03
  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Jacksonville, FL Office Asking Rents by Class

Average office rent in Jacksonville rested at $22.70 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 Jacksonville averaged $23.84 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.22 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.03 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 Jacksonville

Submarket Asking Rents Vacancy Rates
Arlington $26.71 11.54%
Mandarin $23.80 23.69%
Intracoastal West $23.65 20.22%
Downtown $23.26 22.58%
Butler - Baymeadows $22.62 3.19%
West Jacksonville $21.54 7.60%
Southside $20.36 20.76%
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 Jacksonville market was 18.36% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Jacksonville was 3.19% in the Butler - Baymeadows submarket, while the highest office vacancy in the market was 23.69%, recorded in Mandarin.

Office Spaces for Rent in Florida

Jacksonville Office Sale Price per SF

  • $92.742024 Avg. Price per SF
  • 43.90%Y-o-Y Avg. PpSF Change
  • $219.3M2024 Office Sales Volume
  • 182024 Number of Transactions

Jacksonville, FL Sale Price per SF Trend

  • Jacksonville Avg. Sale Price per SF in 2024$92.74
  • Florida Avg. Sale Price per SF in 2024$221.95
Jacksonville office space cost in 2024 marked a +43.90% change compared to the previous year. The sale price for office space in Jacksonville averaged $92.74 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

  • Jacksonville, FL Total Office Sales Volume in 2024 $219.3M
  • Jacksonville, FL Total Number of Office Sales Closed in 2024 18
A total of 18 deals closed on the Jacksonville office market in 2024, adding up to a yearly sales volume of $219.3M. Notably, the largest transaction on the market saw Jacksonville North VA Clinic change hands for $77,247,000 on 9/3/2024.

Largest Jacksonville Office Sales in 2024

Property name Address Date Price
Jacksonville North VA Clinic 145 Heron Bay Road 9/3/2024 $77,247,000
1 Independent Square 1 Independent Drive 4/24/2024 $41,715,000
Meridian at Deerwood 5022 Gate Pkwy 9/3/2024 $19,600,000
Greystone Business Park - Buildings 100, 300, 500, 600 & 700 10550 Deerwood Park Blvd 4/10/2024 $19,200,000
Point Meadows 8262 Point Meadows Drive 5/24/2024 $12,050,000
Data provided by Commercial Edge

Coworking Spaces in Florida

2024 Office Construction in Jacksonville, FL

  • Jacksonville, FL Total SF completed in 2024 193,100
  • Jacksonville, FL Total SF under construction in 2025 62,840

During 2024, 193,100 square feet of new office space were delivered across the market. At the close of 2024, the Jacksonville office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 193,100 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 62,840 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Jacksonville
Office building Address SF Completed
Village Crossing Center 11525 Village Crossing Dr, 32256 36,000 2024
Town Center Two 5335 Gate Pkwy, 32256 217,877 2019
Cubework Jacksonville 2619 Ignition Drive, 32218 174,157 2019
Flagler Center Offices 12574 Flagler Center Blvd, 32258 50,100 2018
Hodges Commons 4796 Hodges Blvd, 32224 25,900 2018
Gate Professional Center 7741 Point Meadows Dr, 32256 28,000 2015
San Marco East Plaza 3563 Philips Highway, 32207 375,000 2011
9822 Tapestry Park Circle #204-205 9822 Tapestry Park Circle, 32246 5,103 2009
9822 Tapestry Park Circle #208-209 9822 Tapestry Park Circle, 32246 3,019 2009
Blue Cross & Blue Shield Campus - Building 900 4800 Deerwood Campus Pkwy, 32246 289,923 2008

Worth noting among recent office completions on the Jacksonville market is Village Crossing Center, which is currently the largest new office development in the city, at 36,000 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 Jacksonville 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.