Q1 2019 Orlando Market Report
Office fundamentals remain tight with demand outpacing supply driving down the vacancy rate. Even though Orlando has seen a cooldown in rent growth, this growth is still above the national average. As e-commerce now accounts for nearly 50% of Orlando’s industrial absorption, vacancy continues to remain very low in this sector. While we are seeing abounding industrial construction in Orlando, the office sector is seeing hardly any speculative office developments. In the absence of new supply, we predict rents will grow on average at 3% year-over-year for the foreseeable future.