With a total score of 65 points out of 100, Miami ranked first among office markets with less than 100 million square feet in the fourth quarter. The favorite Florida destination boasted a noteworthy development pipeline to earn the top score in this group of markets for the percentage of office stock under construction at the start of Q4.
Across the country, Inland Empire, Calif., took second place in this ranking group. The southern California office market boasted the lowest vacancy among smaller entries at the end of 2024 with values continuing a virtually flat trend from the previous quarter.
Back on the East Coast, Richmond-Tidewater in Virginia earned the third-best score among the mid-sized entries in our ranking. The market’s best-performing metric pertained to the growth of the local office segment. More precisely, Richmond-Tidewater added the sixth-most office square footage during Q4 and also ranked sixth-best for the percentage of stock that was under construction at the start of the quarter.

Next, the Central Valley in California placed fourth in the ranking among markets with less than 100 million feet, primarily due to its performance across pipeline and vacancy metrics. Within this group, the Central Valley added the third-most office square footage during the previous quarter, which earned it the second-best score for the percentage of office stock delivered in Q4. At the close of the quarter, the six-county market also had the fifth-lowest office vacancy rate among ranking entries with less than 100 million square feet.
Then, the Southwest Florida Coast market rounded out the top five in Q4. Its strongest suit was office vacancy with the second-lowest rate in this group at the close of the quarter. The market also scored among the 20 best entries for expansion of the office market compared to Q3 in terms of both square footage added in Q4 and the percentage of office stock it represented.
Up north, Harrisburg, Pa., placed sixth, mostly on the shoulders of its performance in terms of the expansion of the local office and coworking scenes: The Pennsylvania market received the sixth-highest score for coworking space added during Q4. This, in turn, represented the second-largest increase of the share of coworking out of the total local office space among mid-sized entries in the ranking. What’s more, Harrisburg office space added during that same time also placed the city fourth for market expansion as a percentage of stock.
Likewise, Nashville — which landed seventh in this ranking group — performed similarly to Harrisburg in that it also earned its best scores for the expansion of the local office and coworking segments. Specifically, Nashville finished third for the percentage of office stock that was under construction at the start of the quarter. Additionally, coworking space added here during that same time period earned the fourth-best score and represented the 11th-largest increase of the share of coworking out of the total local office space inventory in Q4 compared to other mid-sized markets in the ranking.
Back in Florida, West Palm Beach-Boca Raton was the eighth-best scoring market in Q4 among entries with less than 100 million square feet of office space. Here, the office vacancy rate was the third-lowest in the group, and the under-construction pipeline at the start of the quarter earned the eighth-best score for percentage of office stock in development.
Next, Omaha, Neb., placed ninth in the ranking among markets with less than 100 million feet. The most populous city in Nebraska earned the second-best score in this group for the percentage of office stock that was under construction in Q4 2024. At the same time, existing Omaha office space recorded the sixth-lowest vacancy among the mid-sized markets included in this report.
Charlotte, N.C., wrapped up the top 10. North Carolina’s most populous city scored fifth-best among mid-sized markets for year-over-year evolution of the average office asking rent and seventh-best for the percentage of office stock that was under construction at the start of the quarter. It also ranked among the 20 best for coworking space added during Q4 within this ranking group.