Florida's Space Coast Commercial Real Estate Market Summary - 2025, Q1 - 3

Brevard County's commercial real estate landscape continues to evolve,

With office and industrial sectors presenting distinct opportunities for property owners, this market summary highlights current trends and dynamics. In the office market, vacancy rates have dipped slightly to 6%, with demand largely concentrated in medical and 3-Star assets. Higher-tier buildings are capturing the lion’s share of leasing activity and commanding stronger rental escalations, while older, lower-tier office properties face continued challenges. New supply remains minimal and largely owner-user driven, providing owners with limited competition—especially in the medical office niche. With modest rent growth and a flight to quality underway, owners of well-located 3-Star assets may find this a timely window for value-add repositioning or strategic leasing.

On the industrial side, Brevard County is seeing one of its tightest markets in years as seen in this market summary,

with vacancy sitting at just 3.4% and annual rent growth outperforming the national average. Institutional capital is increasingly targeting the area, drawn by strong aerospace and logistics fundamentals. With over 1 million square feet leased in the past year and limited new inventory under construction, existing industrial owners are well-positioned to benefit from upward pressure on rents and rising asset values. Flex and older warehouse spaces also present conversion opportunities given the scarcity of modern supply. For both sectors, the takeaway is clear: well-located, functional assets in Brevard County are in high demand—and owners who invest in quality, adaptability, and tenant-centric offerings are poised to capture long-term gains.