Orlando industrial real estate market reports
Q2 2024
The Orlando unemployment rate has decreased by 30 basis points since last quarter, reaching 2.9% as of May. This rate is notably lower than the national average of 4.0%. Over the past year, nonfarm employment has grown by 1.4%, with construction employment seeing a significant increase of 2.9% during the same period.
800k sf
Year-to-date net absorption
Total year-to-date net absorption is just over 800,000 square feet, the lowest midyear total since 2020.
$11.05 NNN
Asking rates
Asking rates have begun to soften in Orlando after exceptional growth since the pandemic, witnessing a 2.6% year-over-year increase.
2.5 msf
Year-to-date deliveries
Orlando continues to see strong development activity, with 2.5 million square feet delivered so far this year and another 2.7 million square feet under construction.
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