Q3 2020 Orlando Market Report

After a long standstill, movement in the market has begun, albeit slowly and cautiously. As the
state of Florida is now in phase 3 of its reopening plan and restrictions have been lifted some
employers are encouraging a return to office now. Yet many employers, such as Microsoft,
Google, Uber, and Ford Motor Co., are erring on the side of caution and pushing back their
return-to-office until summer 2021. It commonly takes 6-12 months or longer to negotiate
a lease, complete tenant improvements with permitting and occupy space. Because of this
lengthy lead time, decision makers have begun to assess their needs in anticipation of a summer
(or sooner) RTO.