Hurricane Irma had significant impact to Jacksonville’s office market, causing massive flooding in the downtown core and knocking out a major office tower on the Northbank. The closure of the Wells Fargo building temporarily displaced tenants, but caused no major relocation’s and limited business interruptions.

Pre-hurricane, the overall economy continued to grow with the area’s unemployment rate falling 0.8 percentage points (PPS) from a year prior to 3.9% on the addition of 16,900 new. The overall sentiment for the near term indicated Jacksonville should maintain healthy economic fundamentals.

 

  • Class “A” Vacancy is now 9.5%
  • We have over 200,000 square feet of space under construction ​ 
  • Over 400,000 square feet of positive absorption year to day

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