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Downtown Office Rental Rate Changes - Spring 2006

Over the past five years leasing downtown has been the “best deal in Sarasota real estate.”

Over the past five years leasing downtown has been the “best deal in Sarasota real estate.”  While still a good deal, downtown office lease rates have jumped up—making leasing downtown less of a GREAT deal.  Offices rates are, for some properties, reaching $30 per square foot.   The best deal remains leasing high-rise office space in one of the several buildings built in the 1980’s.  Rental rates for class “A” office are $21-$26 per sq ft full service, but expect these rates to increase as very low vacancy rates persist.