Orlando office market reports
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While office occupiers in Orlando continue to contemplate their future space needs in an increasingly hybrid workplace environment and consider downsizing their physical footprints, there has been a steady uptick in activity with strong tenant interest being reported.
Office-using job losses, compared with 10.8% for other industries’ job losses, underscoring the disproportionate impact the pandemic had on the discretionary segments of the local economy.
The total percentage of job losses incurred in Florida during the pandemic that have been recovered.
Total leasing activity (in millions) in Orlando year-to-date through September. There has been an uptick in the leasing of sublet space over the last two quarters, with several larger deals taking place in Lake Mary.
Total vacancy in Orlando as of the end of September. Siemens placed 450,000 sf in two buildings on the market for sublease at the beginning of July, with blocks of space as small as 50,000 sf available, adversely impacting an already-saturated sublease market.
The increase in base rents from peak-to-trough due in part to an increased supply of class A space, as well as improved tenant sentiment and an uptick in leasing activity. For the most part, landlords have been holding rates steady and concessions have not been aggressive.
Total office investment volume (in millions) in Orlando for the period from January 2020 through September 2021. The largest sale during the third quarter was Williams & Company’s acquisition of the Southpointe building in Maitland for $5 million, or $188 per sf.
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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