Which industries are driving office leasing activity in Orlando? - United States
Which industries are driving office leasing activity in Orlando?
Orlando’s office leasing landscape has shifted over the past few years because of the rise in hybrid work models, leading to various demands for physical office space based on tenant industries.
The banking, finance, insurance & real estate sector continued to drive leasing activity, accounting for 20% of annual leasing volume as of the fourth quarter of 2023. This was largely driven by a massive 203,960-square-foot leased signed by BNY Mellon in June.
The tech space increased its share of office leasing activity by 5% year over year, attributed to substantial leases signed by AssistRX and QuinStreet.
The biotech, life sciences, pharma & healthcare sector experienced a distinct surge, registering a noteworthy 7% year-over-year uptick in leasing share in 2023 and indicating a growing demand for healthcare services within the market.