In Q2 2025, the Fort Myers office market demonstrated balanced fundamentals despite modest headwinds. Sales activity was steady, with $62.7 million in transaction volume and an average sales price of $181 per SF, while investment yields held at a 6.4% cap rate. On the leasing side, tenant demand supported the absorption of 186.9K SF, keeping vacancies relatively low at 5.4%. Asking rents advanced by 2.6% year-over-year, reaching an average of $24.70 per SF, underscoring stable, moderate growth in pricing. Development activity remained limited, with just 11.4K SF delivered and a modest 22.8K SF under construction, reflecting cautious new supply. Overall, the quarter highlighted investor interest and consistent leasing momentum in a market that continues to balance growth with restrained construction.

 

Highlights

• Sales Activity Strengthened: The market recorded $62.7M in sales volume, with the average sales price per SF at $181 and an average cap rate of 6.4%, signaling steady investor interest despite higher yields.
• Leasing and Rent Growth: About 186.9K SF was leased, helping maintain a relatively low vacancy rate of 5.4%. Asking rents averaged $24.70/SF, supported by 2.6% year-over-year rent growth.
• Limited New Supply: Deliveries remained minimal at 11.4K SF, with only 22.8K SF under construction, underscoring restrained development in the market even as leasing demand holds steady.

 

Market Demographics

Source: CoStar Group, Inc.

• Unemployment Rate: 4.2%
• Current Population: 870,269
• Households: 341,240
• Median Household Income: $75,437

 

Fort Myers Office Rents

The market posted an average asking rent of $24.70 per square foot in Q2 2025, reflecting a 2.6% year-over-year increase. This modest rent growth indicates that, despite broader headwinds in the office sector nationally, Fort Myers remains relatively stable. The incremental gains suggest that landlords are maintaining pricing power in a market characterized by steady leasing demand, even as growth has slowed compared to earlier years.

 

Market Asking Rent Per SF

Source: CoStar Group, Inc.

 

 Fort Myers Office Vacancy

Vacancy rates in the Fort Myers office market stood at 5.4% in Q2 2025, underscoring the market’s relative tightness compared to many other U.S. metros. Leasing activity, which totaled 186.9K SF, helped keep vacancies in check. The balance between demand and limited new supply has supported low vacancies, giving owners some protection against broader softening trends in the office sector.

 

Vacancy Rate

Source: CoStar Group, Inc.

 

Fort Myers Office Construction

Construction activity in Fort Myers remained limited during the quarter, with only 11.4K SF delivered and 22.8K SF under construction. This restrained pipeline suggests developers are cautious, adding space only when pre-leasing commitments are strong. The modest levels of new supply, especially compared to historical cycles, have contributed to the market’s relatively healthy vacancy performance. At the same time, investors remained active, with $62.7M in sales volume and pricing averaging $181 per SF at a 6.4% cap rate, showing ongoing interest despite cautious development trends.

 

SF Under Construction

Source: CoStar Group, Inc.

 

Fort Myers Office Sales

Sales activity gained momentum in Q2 2025, with total sales volume reaching $62.7 million for the quarter. The average sales price stood at $181 per square foot, reflecting relative pricing stability even as market fundamentals softened. Investment yields were in line with regional trends, with the average cap rate registering at 6.4%. Notably, sales were driven by a combination of smaller transactions and a handful of larger trades, underscoring ongoing investor appetite despite caution around broader office market headwinds. The resilience in pricing and steady activity levels suggest that investors remain drawn to Fort Myers’ office assets for their value and income potential.

 

Sales Volume & Market Asking Rent Per SF

Source: CoStar Group, Inc.

 

By the Numbers

Source: CoStar Group, Inc.

• Sales Volume: $62.7M
• Cap Rate: 6.4%
• Price Per SF: $181
• Vacancy Rate: 5.4%
• Rent Growth (YOY): 2.6%
• Asking Rent Per SF: $24.70
• SF Under Construction: 22.8K
• SF Delivered: 11.4K
• SF Leased: 186.9K