The Real Deal Miami

Fort Lauderdale office vacancy increases

August 14, 2008 01:25PM

Commercial vacancy in Fort Lauderdale rose 5.8 percentage points in the second quarter, compared to the same time last year, one of the biggest changes in vacancy nationwide according to Cushman & Wakefield’s quarterly report. Palm Beach ranked among the cities with the highest overall asking rents in the second quarter. Its average asking rent increased to $41.69 from $37.19 in the second quarter of 2007. Nationally, the U.S. office vacancy rate rose to 10.2 percent from 9.7 percent during the same time last year. TRD