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Regional Summaries

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Orlando, FL

Apartment
The Orlando apartment market vacancy rate ended the fourth quarter of 2017 at 4.9%, up 40 basis points for the period and up 50 for the year following a 40-basis-points rise through 2016. January 2018 brought no additional change. Rent growth in the post-recession period has been strong—and was truly robust in 2017. The $1,146 and $1,085 per month asking and effective averages recorded for the fourth quarter represented gains of fully 7.0% and 6.1% for the year. Respective gains for 2016 were 4.0% and 4.5%. Gains of 0.4% asking and 0.5% effective followed in January 2018. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the Orlando warehouse/distribution sector is moderate but has been declining persuasively. The rate closed the fourth quarter of 2017 at 10.1%, down 50 basis points for the period and down 100 for the year following a loss of 170 in 2016. Rent growth is strong. At $5.11 psf and $4.66 psf, fourth quarter average asking and effective lease rates were up 4.1% and 4.7% year-over-year after increases of 3.4% and 3.5% all told in 2016. Increases of 1.4% and 1.5% are indicated for the fourth quarter alone. January 2018 followed with respective growth rates of 0.0% and negative 0.2% as the vacancy rate added 30 basis points. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in the Orlando general purpose, multi-tenant office market ended 2017 at 14.3%, down 100 basis points since the third quarter and down 40 for the year following the loss of 120 in 2016. January 2018 added 20 basis points. At $23.01 psf and $18.33 psf, quite low by the norms of major U.S. markets, fourth quarter average asking and effective rents represented gains of 1.7% and 1.8% for the year. Increases for the quarter alone, the yearÂ’s strongest, were 0.8% and 0.9%, respectively. January followed with gains of 0.2% asking and 0.1% effective. VIEW OFFICE LISTINGS >
Retail
Vacancy in the Orlando community-neighborhood shopping center market ended the fourth quarter of 2017 at 11.0%, down 20 basis points for the period and essentially flat for the year. January 2018, with 17,000 square feet delivering and 30,000 absorbed net, subtracted 10 basis points from the rate. At $19.46 psf and $16.77 psf, fourth quarter mean asking and effective lease rates for community-neighborhood center space in metro Orlando were up 2.8% and 2.9% for the year after 2016Â’s gains of 2.3% and 2.4%. Gains for the fourth quarter alone were 1.6% for both averages. Losses of 0.1% followed for each in January 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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