Jacksonville’s medical office market absorbed 114,192 square feet in the third quarter of 2026, compared with 15,573 square feet in the previous quarter, according to recent industry reports. Vacancy fell from 10.8% to 10.1%, even as developers delivered 59,000 square feet.

The improvement suggests demand is catching up with recent construction. However, vacancy remained above the 8.6% recorded a year earlier, leaving room for further recovery.

For healthcare providers evaluating space, rental differences also stand out. The report included average asking rents of $28.32 per square foot on a full-service gross basis, while newer medical office properties commanded $41 to $52 per square foot.

Another 92,800 square feet remained under construction. As that space reaches the market, sustained absorption will be important to maintaining the quarter’s occupancy gains.

Source: Colliers Jacksonville Medical Office Market Report Q3 2026