11/05/2024
Despite Hurricane Milton's impact, the worst-case scenario didn’t materialize. Now, as Central Florida begins its recovery, key trends in Orlando's office market remain strong, according to a recent JLL report.
✔️ Rents remain high: Orlando office rents hold steady at $27.75 per square foot, with Class A spaces even higher at $30.10. JLL expects this upward trajectory to continue, driven by activity in architecture, engineering, and law sectors.
✔️ Vacancy rate still low: At 15.6%, Orlando’s office vacancy rate is well below the national average of 22.2%, with further declines expected.
As Orlando rebuilds, the office market is predicted to stay bullish, continuing to attract tenants with competitive rates and concessions.
🔗 Read more from GlobeSt. at the link below:
https://www.globest.com/2024/10/11/orlando-office-eyes-more-high-rent-growth/