Office Market


DIA Icon Squiggle
  • 7.94M Square Feet of Class A & Class B Office Space
  • 30.6% of Jacksonville's Class A and Class B Office Inventory is Located Downtown
  • 54,600 Downtown Employees
  • 2,400 Downtown Businesses
  • 3 Fortune 500 Corporate Headquarters

Office Market Adapts to New Trends

Downtown is home to Jacksonville’s tallest buildings, three Fortune 500 Companies, nearly 8 million square feet of commercial office space, more than 2 million square feet of government buildings and a robust collection of historic and mid-century architecture. In the past year, FIS (fintech) and JEA (electric authority) both opened new headquarters in Downtown.

Commercial lease rates are holding steady while vacancy rates are driven by larger-than-normal swings in occupancy as many firms opted for increased flexibility and a couple of large Downtown tenants put space on the market in the past year. To incentivize use of Downtown’s commercial building stock, the DIA offers a Commercial Revitalization Program to provide funds to tenants for new leases involving existing office space as a way to offset parking costs, while the City provides Business Infrastructure Grants/Loans to attract economic development by providing access to capital for infrastructure improvements to commercial businesses that increase the tax base.


DIA Commercial Incentives

2022 Statistics

Source: CBRE Group Inc., ESRI
& Duval County Property Appraiser

  • $138.5 Million In Major Commercial Sales (Jan 2021 – June 2022)
  • 150,384 Sq. Ft. Net Absorption (2022 Q4)
  • 73.6% Office Occupancy Rate (2022 Q4)
  • $23.10 Average Lease Rate Per Sq. Ft. (2022 Q4)