The Southwest Florida office market remained steady through the first half of 2017. Vacancy has declined throughout the market, but demand slowed. Tenants who expanded were typically able to do so within their existing space. Although rental rates continued to slowly climb, the market shows indications that it has reached an equilibrium.
Sensitive to macroeconomic trends, Southwest Florida’s local economy will continue strong through 2017, marked by continued job and income gains that will boost the regional tourism industry and community. Southwest Florida remains one of the fastest growing regions in one of the fastest growing states in the nation. The Cape Coral-Fort Myers metropolitan area’s 3.1% growth rate was the second highest in the state and the fifth highest in the nation.**
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