Orlando Office Market Report
Slower Delivery Pace, Rising Demand Provide Optimism for Orlando’s Office Sector
Population gains boost need for service providers. As inoculations become more widespread and workers return to offices, companies will gain clarity and begin to firm up future space requirements. This should improve leasing activity in the quarters ahead. In addition, the full reopening of the metro’s prominent tourism venues as well as retail, restaurants and bars will create jobs for the many people moving to Central Florida. Population growth three times the national rate is expected in 2021, generating the need for services such as doctors, lawyers and accountants and boosting demand for smaller offices. This year, medical offices and buildings of less than 50,000 square feet account for the majority of new inventory and are being added throughout the metro to accommodate service providers.