Orlando office market reports
Return-to-office rates have begun to plateau, ending 2022 at 40% recovery. The trend of downsizing footprints and giving up space has continued as office availabilities have increased by 23.7%. There are four new office buildings under construction totaling 697,000 sf that are expected to deliver class A office space in 2023.
Direct asking rents
Orlando’s office market experienced a 3.4% increase in direct asking rents year-over-year to $26.08 per square foot (psf) (FS).
Tenants downsizing and forfeiting space in 2022 resulted in an increase in sublease availability year-over-year, totaling just over 2.3 million square feet (msf).
Orlando’s unemployment rate as of November 2022 fell below pre-pandemic levels, reaching 2.7% with a 4.5% increase in job growth year-over-year.
Office leasing activity sustained a decline of 15.7% year-over-year with 587,000 square feet (sf) leased in 2022.
Interest rate hikes in 2022 led to a decrease in office investment sales volume by 58.6% since year-end 2021.
Orlando’s office market experienced a 68.6% decline in new construction deliveries year-over-year, resulting in 68,398 sf delivered in 2022.
Your source for the latest Orlando office market reports
Get in-depth office market reports from commercial real estate experts in the Greater Orlando area. Avison Young advisors look at Orlando commercial real estate activities and the latest Orlando statistics to provide you expert market research on Orlando's office properties.
Explore different topics like the latest office market pricing trends and analysis of Orlando's current office real estate market conditions. Gain a better understanding of Orlando’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Orlando's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Orlando.
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