Commercial Real Estate, Capital, Insurance, Leasing & Management

Q4-21 Office Report: Jacksonville

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JACKSONVILLE OFFICE MARKET OVERVIEW

Top employers and professionals are increasingly viewing Jacksonville as an ideal market to live and work. People and companies are drawn to the area for its cost of living, which is more affordable than most major metro areas around the country, along with its favorable weather, miles of beaches and overall quality of living.

Jacksonville’s business-friendly environment is also a differentiator, as employers and investors have ample access to tax incentives as well as grants for the renovation and rehabilitation of older buildings.

JACKSVONILLE OFFICE MARKET TRENDS TO WATCH

More “green” buildings: We can expect an increase in new office buildings being designed to meet LEED standards with low or emission free for the environment. With its numerous architecture and engineering resources, Jacksonville will look for ways to decrease operating costs and carbon emissions in new builds.

Demand for urban locations: While suburban professional office parks were previously more in demand than urban core buildings, Jacksonville’s investment into its downtown and surrounding submarkets is encouraging many office users to relocate from suburban to urban spaces.

Adaptive reuse: With mixed-use development being a hot ticket, Jacksonville is seeing some of its older/ existing office
buildings being redeveloped into mixed-use projects that
also include retail and food services.

View or download Franklin Street’s Q4-21 Jacksonville Office Market Report below:

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