Marcus & Millichap has released its fourth quarter 2026 Fort Lauderdale Office Market Report, highlighting a period of tightening fundamentals as new supply remains constrained. The study finds that office deliveries are limited, vacancy is receding and asking rents are moving higher, trends that together are bolstering investor confidence in the Fort Lauderdale office sector.
According to the report, several of the market’s established office corridors are demonstrating particular resilience. In Cypress Creek, vacancy dropped 280 basis points year-over-year to reach 14.7 percent. Hollywood also posted improvement, with its vacancy rate declining 90 basis points over the same period to 16.3 percent. These changes indicate that existing inventory in key submarkets is steadily absorbing available space.
New construction remains muted. The report notes that T3 FAT Village is the only significant traditional office project scheduled to deliver in 2026. The property comprises 341,500 square feet of Class A office space, all of which was fully available as of June. With so little additional supply in the pipeline, the overall market is tightening even as this large block of new space seeks its first tenants.
On the pricing side, asking rents have moved higher over the past year. Average asking rents rose 5.3 percent year-over-year to nearly $28 per square foot in June. Marcus & Millichap attributes this increase in part to newer office properties, which are continuing to attract tenants that are willing to pay higher rents for upgraded space. This flight by occupiers toward higher-quality buildings is helping to support overall rent growth across the market.
Investment metrics are also showing more stability. The report finds that average sale pricing for Fort Lauderdale office assets reached nearly $320 per square foot for the year ended in June. Transaction activity in 2026 has been concentrated in well-occupied, stabilized Class B properties, suggesting that investors are focusing on assets with durable income streams rather than higher-risk repositioning opportunities.
Taken together, lower vacancies in established corridors, limited new deliveries, rising asking rents and firmer pricing for trades point to a Fort Lauderdale office market that is tightening despite macroeconomic headwinds. For owners, the environment reflects improving leverage at the negotiating table, while investors are finding clearer price discovery in segments of the market with strong occupancy and consistent rent rolls.
