Thursday’s Office Market Quick-Take Stats on Downtown Ft. Lauderdale by Blue Box Real Estate.

Office rental rates remained unchanged this year with Class A rates at $45.63 per square foot and Class B rates holding at $35.74 per square foot. In one of the largest lease transactions, Florida Office of Attorney General renewed their 42,000 SF lease at the newly renovated 110 SE Sixth Street Building.

New supply totaling 480,000 SF is under construction, nearly a 10% increase in Class A supply. The Main Las Olas is a 25 story 375,000 SF development by Stiles Realty with a completion date of July of 2020. A combined 85,000 SF has been pre-leased to Akerman, Berger Singerman and BBX Capital. Another 100,000 SF is under construction at 550 S. Andrews Avenue.

The capital markets front includes a 2019 sale of the 72,950 SF 17th Street Quay Building for $43 million or $590 per square foot.