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.

December 19, 2023

Additional resources

• FIRE and tech tenants lead the way for future U.S. office market activity
• Office downsizing in Orlando continues as hybrid work is here to stay

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