JACKSONVILLE, FL--For a complete copy of CB Richard Ellis's fourth-quarter report, please contact Brian Cornett at brian.cornett@cbre.com
Office Marketview
The fourth quarter ends with evident signs of the weakened economy but with some indicators pointing to potential market improvements.
Quick Stats Change from last
Total Vacancy 22.0%
Direct Lease Rate $18.19
Qtr Net Absorption (14.4) K
Under Construction 0 K
Industrial Marketview
The Jacksonville Industrial Market vacancy rate increased to 9.3% versus the prior quarter's 8.5%. Despite increasing vacancy, the average asking lease rate showed a slight increased to $4.64 NNN PSF versus $4.59 NNN PSF for the third quarter.
Total Vacancy 9.3%
Direct Lease Rate $4.64
Qtr Net Absorption (205,682) K
Under Construction 0 K
Completions 126 K
Retail Marketview
The Jacksonville Retail Market direct vacancy rate experienced an increase of 0.1 percentage points, bringing it to 10.5% versus the prior quarter's 10.4%.
Quick Stats Change from last
Total Vacancy 10.8%
Direct Lease Rate $15.95
Qtr Net Absorption (30.5) K
Under Construction 738 K
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