Regional Summaries

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Orlando, FL

Third quarter 2017 vacancy in the Orlando apartment market was 4.5%, up 20 basis points both for the period and year-to-date. The imbalance that followed in October lifted the rate to 5.1%. At $1,120 and $1,067 per month, asking and effective averages for the third quarter of 2017 were up fully 4.6% and 4.3% since the end of 2016. Gains in the third quarter alone were 1.8% for both rates, to which October added increases of 0.5%. Indeed, October’s increases resulted in gains year-to-date through that month of 5.7% asking and 5.5% effective, increases greater than had been expected. VIEW APARTMENT LISTINGS >
Vacancy in the Orlando warehouse/distribution market is moderate but declining persuasively. The rate closed the third quarter of 2017 at 11.0%, down 70 basis points for the period and down 30 year-to-date following a loss of 160 basis points all told through 2016. At $5.00 psf and $4.55 psf, third quarter average asking and effective warehouse/distribution space lease rates were up 2.8% and 2.9% year-to-date after increases of 2.7% and 3.0% all told in 2016. Increases of 0.8% asking and 1.1% effective are indicated for the third quarter. October brought additional increases of 0.4% for each rate along with a 30-basis-points drop in the vacancy rate. VIEW INDUSTRIAL LISTINGS >
Vacancy in the Orlando general purpose, multi-tenant office market closed the third quarter of 2017 at 14.9%, up 40 basis points for the period and up 60 year-to-date following the loss of fully 190 all told through 2016. Due in part to a revision of the inventory count, October followed with an increase to 15.2%. At $22.82 psf and $18.15 psf, average asking and effective rates for the third quarter represented gains of 0.9% and 0.8% year-to-date. Increases for the quarter alone were 0.1% for both averages. October followed with an essentially flat performance. VIEW OFFICE LISTINGS >
Vacancy in the Orlando community-neighborhood shopping center market ended the third quarter of 2017 at 11.2%, down 20 basis points for the period but up 10 year-to-date after a flat overall performance the year before. October took 10 additional basis points from the rate. At $19.12 psf and $16.48 psf, third quarter mean asking and effective lease rates for community-neighborhood shopping center space in metro Orlando were up 1.0% apiece year-to-date after 2016’s gains of 2.3% and 2.4%. Gains for the third quarter alone were 0.4% asking and 0.5% effective. Increases of 0.2% are indicated for both averages for October. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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