[Updated Oct 2020] A guide to executive suites and office space to rent in Ft Lauderdale as well as general information that may be useful if you are considering renting office space in Ft Lauderdale.
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History & Geography
Sat on the Atlantic coast of southern Florida, Ft Lauderdale is one of the region’s most well-known and dynamic cities. Ft Lauderdale is located adjacent to the ocean with seven miles of beaches and has a large network of canals running throughout the city. It has a tropical climate with little temperature variation throughout the year. Ft Lauderdale has a history as storied and exciting as any American city. The area was originally inhabited by Tequesta Indians, who upon the arrival of Europeans in the 16th century were decimated by disease. The region changed hands many times in the ensuing years, from the Spanish to the British and finally the US. By the early 19th century there was a small community of farmers living in the area who traded with the local Seminole Indians. In 1836 the Seminole rose up and killed many of the settlers, sparking off the Seminole War. As a result, Ft Lauderdale was built in 1838 and experienced much of the conflict associated with the war. After the end of the war, the fort was abandoned and the area remained sparsely populated until 1896 when the Florida East Coast Railroad was built through the area. Ft Lauderdale was incorporated as a city in 1911 and in 1915 was named as the seat of Broward County. The city, and Florida as a whole underwent major development in the 1920s which was known as the Florida Land Boom. Ft Lauderdale expanded even further during WWII when it was the site of a major training base. After the war, many members of the armed forces settled in the city and the population grew even more. By 1970 the population was 139,590. Today the city is part of a metropolitan area which has 1.8 million people and is one of the most popular tourist destinations in Florida.
Economy
The main bulwark of the Ft Lauderdale economy is tourism. Because of the city’s miles of long sandy beaches and almost uninterrupted year-long sunshine, millions of tourists flock to the city every year. Originally Ft Lauderdale catered to the college student crowd on spring break and until the mid-1980s was the top spring break destination in the US. This has changed however and currently, Ft Lauderdale caters to a wealthier brand of tourist. Ft Lauderdale has also established a reputation recently as a centre for trade fairs and conferences. The city’s convention center features 600,000 square feet and hosts over ten million visitors to conventions every year. Moreover, Ft Lauderdale is a popular yachting destination and there are usually hundreds of luxury yachts to be found in its harbor or the many marinas and boatyards scattered around the city. Associated with this, the boating industry is the city’s second-largest contributor to the economy, with over 100,000 people being employed. The city is a large maintenance and building center for yachts and the Ft Lauderdale International Boat Show is the third largest boat show in the world. Some other companies based in Ft Lauderdale are DHL Express, Spirit Airlines, National Beverage Corporation, American Express, Motorola and Tenet Healthcare.
Tourism & Culture
Ft Lauderdale is a city whose population fluctuates throughout the year depending on the season and the number of tourists. During the winter and early spring Ft Lauderdale is filled with so-called snowbirds from the north, many of whom have vacation homes in the city. Ft Lauderdale used to be known as ‘Ft Liquordale’ because of the large amounts of bars and clubs catering to students on spring break. The image of the city has changed since those days and in 2006 only about 10,000 spring breakers visited Ft Lauderdale. The city is also known for its large gay community and is popular with gay and lesbian visitors. In particular, the neighbourhoods of Victoria Park and Middle River Terrace are popular gay neighborhoods and Wilton Manors is known as the city’s Gay Village. The entertainment center of Ft Lauderdale is the Riverwalk Arts & Entertainment District, based on Las Olas Boulevard. While the city’s reputation as a spring break center may have lessened, Fort Lauderdale is still home to 4,100 restaurants and more than 120 nightclubs.
Transportation
Fort Lauderdale’s main airport is the Fort Lauderdale-Hollywood International Airport based in nearby Dania Beach. It is the fastest-growing airport in the country and is served by many low-cost airlines like Southwest and JetBlue. Miami International and Palm Beach International Airport are also close enough to be used by visitors to the city. The city itself has a large public transportation system consisting mainly of a bus network, though a streetcar system is currently being planned. Port Everglades in Fort Lauderdale is one of the busiest cruise ship ports in the world and is the state’s deepest port.
Office space for rent in Fort Lauderdale FL
Currently, the rental rate for Class A office property in the Fort Lauderdale CBD is approximately USD 32 per square foot per year. In the suburbs and outlying towns Class A space currently rents for USD 29 per square foot. There are currently few projects in the pipeline for Ft Lauderdale which will eventually mean a drop in the vacancy rate. Currently, the vacancy rate is hovering at about 20 percent, which translates to 1.1 million square feet of office space standing empty. Like many cities in the region, Ft Lauderdale was hit hard by the recession and its recovery has been slower than expected.
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