Orlando industrial real estate market reports
Q2 2025
Accelerating leasing velocity signals a textbook supply-demand rebalancing in Orlando’s industrial market, with Q2 2025 activity rising to 3.96 million square feet (sf), more than double Q2 2024 levels. Vacancy rose to 7.8%, reflecting digestion of recent deliveries rather than softening demand, especially as new construction slows to record lows. With the pipeline shrinking and leasing momentum building, the market is steering toward equilibrium. A flight to quality is emerging, with top-tier projects outperforming while generic developments face lease-up risk amid a more selective market. Despite broader availability, asking rents hit a record $11.58 psf NNN, underscoring strong pricing dynamics.
Asking rents
Asking rents ticked up to their highest point following a minor dip last quarter, rising 5% year-over- year to reach a record high.
Under construction
Orlando’s construction pipeline totals 1.9 million square feet, down more than 50% from the 4.0 million square feet underway in Q2 2024.
Vacancy
Vacancy rose 80 basis points from 7.0% in Q1 2025 but is expected to decline as development remains at record lows.
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