Downtown Office Rental Rate Changes - Spring 2006

Over the past five years leasing downtown has been the “best deal in Sarasota real estate.”  While still a good deal, downtown office lease rates have jumped up—making leasing downtown less of a GREAT deal.  Offices rates are, for some properties, reaching $30 per square foot.   The best deal remains leasing high-rise office space in one of the several buildings built in the 1980’s.  Rental rates for class “A” office are $21-$26 per sq ft full service, but expect these rates to increase as very low vacancy rates persist.