For example, vacancy rates have started to drop in the Downtown submarket of Broward County, and the area has seen a rise in average asking rents recently, the report states. The round-the-clock neighborhood this area is becoming is expected to result in a greater demand for office space, as well as less quality office development property. The report summarizes the mood here as "patient and optimistic."

Vacancy rates have decreased slightly in recent months in the Commercial Boulevard submarket of Broward, which overall is relatively flat with not much new leasing activity. More new tenants or expansions will be needed to increase the stable average asking rents. The Northwest Broward submarket is experiencing low vacancies and rising average asking rates, although the rates are still low compared with the rest of the county.

In the Boca Raton submarket of nearby Palm Beach County, direct vacancy rates are continuing to drop, as is sublease space, which should mean higher average asking rates in the near future.