Orlando office market reports
Q2 2025
Orlando’s office market showed solid momentum in Q2 2025. Rents edged upwards, and unemployment declined from January levels. All office-using industries saw year-over-year job growth, signaling continued hiring demand from office-based employers. Class B space outperformed this quarter, capturing a larger share of leasing activity and posting significantly lower vacancy rates than both Class A and Trophy assets. While overall absorption remains near zero, upcoming move-ins from a few larger tenants are expected to push the figure into the positives in the coming quarters.
Class B leasing activity
In Q2 2025, demand for Class B space in Orlando surged, accounting for 74% of total quarterly leasing activity, up 29% from the prior quarter.
Average asking rent
Orlando logged an average asking rent of $27.87 in Q2 2025, up $0.41 from the prior quarter.
Unemployment rate
As of May 2025, the Orlando-Kissimmee-Sanford MSA saw an unemployment rate of 3.4%, down 0.2% from Jan. 2025 levels.
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