Let’s Break the Numbers Down
The Florida commercial real estate landscape has undergone a seismic shift, evolving from a steady-growth market into a global destination for capital. This data comparison captures a historic “before and after” snapshot, contrasting the Pre-COVID stability of 2019 with the Post-COVID reality of 2026. While the pandemic disrupted global markets, it served as a catalyst for Florida, accelerating a decade’s worth of migration and corporate relocation into just a few years. The result is a transformed economic map where “sunshine state” premiums are now the standard across every major metropolitan statistical area.
As you dive into the numbers, you’ll see the stark contrast in how asset classes have recalibrated. From the “Wall Street South” phenomenon driving Palm Beach office rents to record highs, to the explosive 100%+ gains in industrial values fueled by the e-commerce boom, the delta between 2019 and today is staggering. This breakdown provides the essential metrics for investors and tenants alike, illustrating how Florida has moved past its recovery phase and settled into a high-value, high-demand “new normal” that continues to outpace national averages.
MIAMI-DADE
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $45.00 | $62.50 | +72.00% | $420 | $610 | +69% |
| Office (Non-Class A) | $31.00 | $38.00 | +81.58% | $260 | $310 | +84% |
| Industrial | $9.50 | $21.00 | +45.24% | $145 | $335 | +43% |
| Retail | $38.50 | $44.75 | +86.03% | $325 | $380 | +86% |
| Multifamily (mo) | $1,650 | $2,430 | +67.90% | $210 | $315 | +67% |
BROWARD – FT LAUDERDALE
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $36.00 | $48.50 | +74.23% | $310 | $440 | +70% |
| Office (Non-Class A) | $24.00 | $29.50 | +81.36% | $205 | $245 | +84% |
| Industrial | $8.50 | $18.50 | +45.95% | $120 | $245 | +49% |
| Retail | $24.00 | $29.50 | +81.36% | $230 | $290 | +79% |
| Multifamily (mo) | $1,550 | $2,250 | +68.89% | $190 | $280 | +68% |
PALM BEACH
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $38.00 | $68.00 | +55.88% | $340 | $590 | +58% |
| Office (Non-Class A) | $26.00 | $34.00 | +76.47% | $215 | $285 | +75% |
| Industrial | $9.00 | $19.00 | +47.37% | $130 | $260 | +50% |
| Retail | $26.50 | $35.50 | +74.65% | $260 | $340 | +76% |
| Multifamily (mo) | $1,600 | $2,410 | +66.39% | $195 | $295 | +66% |
TAMPA BAY
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $30.00 | $39.50 | +75.95% | $240 | $325 | +74% |
| Office (Non-Class A) | $20.00 | $24.50 | +81.63% | $155 | $185 | +84% |
| Industrial | $6.50 | $13.50 | +48.15% | $90 | $185 | +49% |
| Retail | $19.00 | $25.25 | +75.25% | $185 | $255 | +73% |
| Multifamily (mo) | $1,300 | $1,920 | +67.71% | $160 | $235 | +68% |
ORLANDO
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $27.00 | $36.00 | +75.00% | $220 | $295 | +75% |
| Office (Non-Class A) | $19.00 | $23.50 | +80.85% | $145 | $175 | +83% |
| Industrial | $7.00 | $14.50 | +48.28% | $95 | $190 | +50% |
| Retail | $21.00 | $26.00 | +80.77% | $190 | $240 | +79% |
| Multifamily (mo) | $1,350 | $1,880 | +71.81% | $165 | $225 | +73% |
JACKSONVILLE
| ASSET CLASS | 2019 RENT | 2026 RENT | % CHANGE | 2019 SALES/SF | 2026 SALES/SF | % CHANGE |
| Office (Class A) | $22.00 | $29.00 | +75.86% | $180 | $230 | +78% |
| Office (Non-Class A) | $16.00 | $19.50 | +82.05% | $115 | $140 | +82% |
| Industrial | $5.50 | $11.25 | +48.89% | $75 | $145 | +52% |
| Retail | $16.50 | $21.50 | +76.74% | $160 | $205 | +78% |
| Multifamily (mo) | $1,100 | $1,490 | +73.83% | $130 | $180 | +72% |
