Market Report
Orlando Retail Market Report
1Q 2026
Rapid Population Growth ContinuesrBoosting Select Counties as Supply Remains Limited
Leasing skews toward quality spaces. Following a first half marked by weakening net absorption, Orlando’s retail market enters 2026 with renewed positive momentum. As the metro’s vacancy rate remains 140 basis points below its long-term average, last year’s deceleration largely reflects ongoing tenant preference for a limited supply of new, well-located available spaces. As such, leasing activity may remain positive but measured in 2026 as the construction pipeline thins notably, with over 70 percent of incoming space already accounted for as of January, highlighted by a community center over 400,000 square feet and anchored by Target in Lake Nona. Limited availability is more notable in several submarkets. Southern outlying suburbs and Osceola County remain exceptionally well positioned, with vacancy near 2 percent late last year and Osceola ranking as Florida’s second-fastest-growing county by population since 2020. Lake County also stands out as one of Florida’s fastest-growing counties by population, with rapid growth in asking rent and vacancy near 4 percent heading into 2026.
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