Orlando Industrial Market Report (Q4 2020)8 Feb 2021
The industrial sector prospered in Orlando during 2020 due in large part to the continued steady flow of goods through its distribution corridors, even as the COVID-19 pandemic tested every link in the global supply chain. Robust leasing, strong net absorption and the steady delivery of new industrial space endured throughout 2020 and is expected to continue into 2021. During the trailing 12-month period ending with December 2020, the overall vacancy rate declined notably by 285 basis points, with the largest drop in vacancy reported in the Airport/Southeast and Longwood/Lake Mary/Sanford submarkets, down 43.7% and 44.7% respectively. Leasing velocity was brisk during the fourth quarter, with six key transactions in excess of 100,000 sf.