TAKEAWAYS

• South Florida’s Class A asking rents reached a record high of $45.41 per square foot due to an increase in demand for higher quality amenity-rich office buildings as companies hope to get remote workers to spend more time in the office
• Leasing totaled 1.6 MSF, 25.0% lower than the previous quarter but a significant increase compared to the same period a year ago
• Overall availability decreased slightly to 19.9% from 21.2% a year ago. Class A availability showed a marked decrease going from 25.7% a year ago to 22.7% as tenant flight to quality remains a primary driver

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