Scroll Down

Market Report

Orlando Industrial

Second Half 2019

Industrial Sector Rides the Wave of Orlando’s Booming Economy; Buyers Active Throughout the Metro

A robust economy and significant population gains are generating a need for industrial space. Orlando had one of the strongest job markets in the nation over the past four quarters, which is attracting new residents and increasing demand for more goods and services. As a result, companies are requiring more warehouse and distribution space. Deliveries in 2019 will decline slightly from last year’s 11-year peak; however, a rise in speculative construction plus the recent closure of the 1 million-square-foot former Winn-Dixie distribution center will push annual vacancy up. Inventory growth has been focused on Southeast Orange County in recent years, a trend that will continue in the quarters ahead. A new industrial park is expected to get underway in 2020 near West Taft Vineland Road and South Orange Avenue that could accommodate up to 1 million square feet. Construction is also picking up significantly in Apopka and Ocoee in Northwest Orange County, where facilities of more than 300,000 square feet are underway for Coca-Cola and Goya. Although vacancy has ticked up from last year’s cyclical low, rents are still climbing at a vigorous clip.

Related Research

Back to top