One of the largest Florida’s submarkets, Naples office space for rent is experiencing a slight uprise after the decade of the recession that has been felt all over the US. The vacancy rate in the city has grown by a few strong points, especially if compared with the national average. From the investors’ point of view, the climate has also been cloudless, given a spur of the new development projects in the area. As the city is a destination for the rich and confident, the Class A projects, naturally, prevail. Those tenants looking for more affordable options might check on the recently renovated premises or small office spaces in Naples. The leasing activity, in general, has ramped up due to the absorption of the large blocks of space. The availability rate rests at 7.1%. As for the prices, you can surely make your business prognosis bearing in mind that it would take nearly $21 per sq.ft. in Naples. Office space rents are slightly higher for the Class A buildings due to the customized design and various tech solutions installed onsite. That’s still quite cheap considering the dolce vita flour that dominates the area. Perhaps, the main reason why prices remain flat is a diversified economy. There are no large corporations or booming start-ups buying out the whole floors or buildings. Additionally, unlike other American cities where most of the projects under construction are pre-leased, in Naples, you can wait up until the end of development works to check on the premises and decide whether you are willing to move in. The pre-lease rate is about 67%.
