FT.LAUDERDALE,FLA.-In Broward County, Fla., home to Ft.Lauderdale, moderating job losses are expected to ease the rate oferosion in office property fundamentals, even as the vacancy ratewill top 21% and rents are falling for the second consecutive year,according to a Marcus & Millichap office market report entitled“Broward County Gradually Progresses to Recovery.”

But the operative word in this report may be “gradually,”because every Broward County submarket continues to be affected bythe recession. Not only are there few office property sales, theones which have occurred are for small properties.

“There haven’t been a lot of sales,” says Douglas Mandel, vicepresident for investments at Marcus & Millichap Ft. Lauderdale.One of the few examples he noted was that of the 32,000-square-foot“Allstate building,” named for the former occupant, in Margate, aFt. Lauderdale suburb, which was purchased by a user in Februaryfor $3.2 million or $100 per square foot.