Q2 2021 Orlando Market Report

Q2 2021 office market showed signs of improvement in the 2nd quarter after months of struggling due to the pandemic. Orlando’s office market appears to be rebounding after stalling out as companies worked from home and reexamined their physical work environment needs. There were also several positive indicators for the local market. Rents rose marginally year-over-year, net absorption was near zero, and sublease delivery has slowed down. Several large users have announced long term leases indicating a confidence to return to work.

Orlando is being considered for relocations from other markets hardest hit by the pandemic. Partly because of the way Ron DeSantis has reopened the economy and partly because of a climate of favorable wages and taxes. Disney’s recent announcement of relocating 2,000 employees from California to Orlando being most notable.