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Regional Summaries

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Orlando, FL

Apartment
Vacancy in the Orlando apartment market ended the first quarter of 2017 at the low rate of 4.9%, up 30 basis points for the period following an increase by 40 basis points all told last year. The April vacancy rate was unchanged from the first quarter. At $1,074 and $1,025 per month, first quarter 2017 average asking and effective rents were up 0.4% and 0.3% for the period following increases of 3.9% and 4.3% all told in 2016. April followed with increases of 0.6% for both rates. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the Orlando warehouse/distribution sector remains relatively elevated. The rate closed the first quarter of 2017 at 13.2%, up 60 basis points for the period following a loss of 90 basis points all told last year. The April vacancy rate saw no change from the first quarter. At $4.87 psf and $4.42 psf, first quarter average asking and effective warehouse/distribution space lease rates were up 0.6% and 0.7% for the period after increases of 2.3% and 2.6% all told last year. Increases of 0.2% followed in April for both rates. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Orlando general purpose, multi-tenant office market closed the first quarter of 2017 at 14.4%, up 10 basis points for the period following the loss of fully 190 basis points all told last year. April saw a 10-basis-points increase. At $22.71 psf and $18.08 psf, average asking and effective rates for the first quarter represent gains of 0.5% each for the period after 2016’s gains of 1.9% and 2.2%. April added increases of 0.1% to both averages. VIEW OFFICE LISTINGS >
Retail
Vacancy in the Orlando community-neighborhood shopping center market ended the first quarter of 2017 at 10.9%, down 20 basis points for the period after a flat performance overall last year. April saw no change in the vacancy rate. At $18.92 psf and $16.31 psf, first quarter mean asking and effective lease rates for community-neighborhood center space in metro Orlando were down and up 0.1%, respectively, for the period after 2016’s gains of 2.3% and 2.4%. April saw increases of 0.2% asking and 0.1% effective. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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