No new office buildings have been completed in the southwest Florida market area so far in 2013, CoStar Group says in its market trend report.
This compares to two buildings totalling 28,151 sq. ft, completed in the fourth quarter 2012, and 10,975 square feet in two buildings completed in the third quarter 2012, the report says.
There were 3,869 sq. ft. of office space under construction at the end of the second quarter 2013 in a single project at 8030 Summerlin Lakes Dr., in Fort Meyers. The project has been 100 per cent pre-leased.
“Total office inventory in the southwest Florida market area amounted to 31,442,624 sq. ft. in 3,146 buildings as of the end of the second quarter 2013,” CoStar says. ” The Class-A office sector consisted of 3,587,339 sq. ft. in 67 projects. Within the office market there were 60 owner-occupied buildings accounting for 1,033,821 sq. ft. of office space.”
The information in this news report is based on CoStar’s Second Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.