Orlando industrial real estate market reports

Q1 2025

Orlando’s industrial market is entering a new phase, marked by healthier fundamentals and early signs of sustained recovery. After a stretch of overbuilding, leasing activity has picked up, vacancy is retreating from recent highs, and absorption is back in line with long-term trends. The development pipeline has tightened significantly, allowing the market to digest recent supply while rents remain historically strong. With construction starts at their lowest in over a decade, Orlando appears to be recalibrating toward a more demand driven cycle, setting the stage for a more stable year ahead.

$11.50 psf

Asking rents

Asking rents held at $11.50 per square foot (psf) NNN, up 5% year over year—the second-highest level on record—and staying historically strong despite no quarterly growth.

7%

Vacancy rates

Vacancy fell 30 bps to 7%, easing off a near five-year high from Q4 2024. The market appears to be stabilizing as we move further into 2025.

646k sf

Net absorption

Orlando recorded 645,534 square feet of net absorption, surpassing the total of the last three quarters and signaling a rebound toward more typical long-term trends.

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