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Commercial real estate activity continued to decline in Jacksonville in the first quarter, with retail, industrial and office market vacancies all hitting double digits, according to CB Richard Ellis. CBRE reported no industrial or office space under construction in the city in the first quarter.
| Sector | Vacancy
Rate |
Avg. Lease Rate (sq. ft.) |
| Office | 22% | $18.04 |
| Retail | 10.5 | 15.62 |
| Industrial | 10.3 | 4.73 |
FLORIDA TREND MAGAZINE
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