Engage Jacksonville

OFFICE SNAPSHOT 1Q 2022

Direct Vacancy and Rental Rates

Direct Vacancy and Rental Rates

10.0% 12.0% 14.0% 16.0% 18.0% 20.0%

$25.00

TOTAL OFFICE INVENTORY

$20.00

$15.00

$10.00

0.0% 2.0% 4.0% 6.0% 8.0%

DIRECT ASKING RENT $21.89 PSF/YEAR

DIRECT VACANCY 17.8%

$5.00

$0.00

2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q22

24.4 MSF

Direct Net Asking Rental Rate

Direct Vacancy Rate

Direct Leasing Activity Absorption Direct Leasing Activity and Absorption

(1,000,000) (500,000) 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000

SUBLEASE SPACE % 2.2%

LEASING ACTIVITY 534,082 SF

DIRECT ABSORPTION 42,014 SF

CLASS A

CLASS B

10.8 MSF

11.0 MSF

2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q22

*Figures are year-to-date, rents represent full service

Leasing Activity

Overall Net Absorption

Source: Cushman & Wakefield Research

ENGAGE JACKSONVILLE MSA OVERVIEW | 12