Orlando Industrial Market Report

Population gains aid industrial fundamentals. Prior to the pandemic, Orlando ranked among the nation’s top markets for in-migration and job creation. These increases and a rise in e-commerce spending allowed the metro’s industrial sector to be relatively insulated from the impacts of the health crisis, with the segment recording positive net absorption during each quarter in 2020 and the first quarter of this year. That trend should continue as a strong rate of employment growth draws more households to the metro in 2021 and bolsters consumer spending. These factors and a record year for multifamily deliveries should stoke demand for storage and last-mile distribution space in and adjacent to expanding submarkets.