Where is the Office Market in Central Florida? – Depends on What You Believe
The Central Florida office market, on paper, continues to make great strides. Vacancy is down….our average lease rates for the area were flat this quarter, but remain healthy….sales activity saw an increase of 7.2% from the first quarter…….submarkets that have been dragging (ie: Maitland Center) are showing signs of life. The overall “belief” is that the office market is healthy and rolling along.
Yet, when we talk with those active in the Central Florida office market, there is a certain amount of skepticism as to how healthy we really are. Will we have enough space to continue to attract larger, corporate-driven transactions (like the Deloitte transaction in Lake Mary of a few quarters ago, or the recently announced ADP transaction in Maitland Center)? The question really is how to sustain our momentum…..How can we keep it moving forward?
To view the Central Florida Office Market Report in its entirety, please click below: