TAKEAWAYS

• South Florida's Class A average asking rent reached a new peak at $46.95 per square foot, increasing 5.7% year over year as strong demand from financial services companies and law firms is expected to continue in 2023
• Despite a robust construction pipeline, availability decreased to 18.7%, down 110 basis points over a year ago due to elevated demand coming out of pandemic
• While available sublease space of 2.9 million square feet remains lower than other major markets, it has slowly increased in recent quarters and will be worth watching moving forward

Read the full report