Intelligence

Regional Summaries

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Orlando, FL

Apartment
Vacancy remains favorable in the Orlando apartment market. At 5.6%, the fourth quarter 2015 rate was up 60 basis points for the period but was down 30 for the year. The rate for January was 5.5%. At $1,021 and $969 per month, fourth quarter 2015 asking and effective averages were up fully 5.2% and 5.4% for the period and were up 0.9% and 0.7% during the quarter. Gains of 0.4% followed for both rates in January. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the Orlando warehouse/distribution market ended 2015 at 13.5%, up 20 basis points since the third quarter but down 30 for the year. The 109,500 square feet that completed construction in January 2016 accompanied by 86,000 square feet of net absorption left the rate unchanged. At $4.73 psf and $4.28 psf, fourth quarter average asking and effective lease rates for warehouse/distribution space were up 2.2% and 2.4% for the year. Respective growth rates for the fourth quarter alone were 0.9% and 0.7%. No changes followed in January. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Orlando general purpose, multi-tenant office market closed 2015 at 16.4%, down 20 basis points since the third quarter, down 70 for the year. At $22.17 psf and $17.60 psf, fourth quarter asking and effective average rents were up 1.8% and 2.0% for the year and were up 0.5% and 0.6% for the quarter. On the way to what is expected to be a strong performance in 2016, January followed with no new supply deliveries, 98,000 square feet of positive net absorption, a 30-basis-points drop in the vacancy rate, and gains of 0.1% and 0.2% in the average asking and effective lease rates. VIEW OFFICE LISTINGS >
Retail
Vacancy in the Orlando community-neighborhood shopping center space has been declining. The year-end 2015 community-neighborhood sector rate was 11.1%, down 30 basis points since the third quarter, down 60 for the year. January followed with a 20-basis-points decline. At $18.51 psf and $15.92 psf, fourth quarter average community-neighborhood sector asking and effective lease rates were up 1.5% and 1.6% for the year following larger gains the year before. Respective growth rates for the fourth quarter alone were negative 0.4% for each. January followed with a 0.1% (two-cent) gain for the mean effective rate, while the average asking price went unchanged. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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