Orlando office market reports

Orlando’s office market had a strong quarter, recording 987k square feet of leasing activity, the highest quarterly total since Q2 2022. Average quarterly leasing activity has also increased compared to 2023 and earlier in 2024, suggesting that the market may have bottomed out last year. Both pricing and absorption have remained steady, signaling a sense of balance and stability in the office sector. In terms of employee visitation, Orlando has consistently outperformed the U.S. average on every weekday except Friday, with Wednesday visitation alone nearing an 80% utilization metric. Orlando’s expanding medical office footprint is reflected in the 1.6% year-over-year growth in employment within the education and health services sector. Other industries, including financial activities and information, also saw positive growthat 2.4% and 1.8%, respectively.