The Real Deal Miami

Broward office market remains even

By James Kelly | July 14, 2008 06:11PM

The office vacancy rate in Broward County remained even in the second quarter from the first quarter, while the average asking rent fell slightly, according to a market report released by CB Richard Ellis.

The county saw a vacancy rate of 12.6 percent again in the second quarter. It had an average asking rent of $18.29 per square foot, down 14 cents from $18.43 per square foot in the first quarter.

There were 386,000 square feet of office space constructed in the county in the second quarter. The largest two projects built, located in Sawgrass, were the 128,416-square-foot Lakeshore Plaza II and the 92,362-square-foot Sawgrass Pointe II.