Central Florida Office Market Report
1Q23
| Average Asking Rent (Price/SF) | $26.62 |
| Vacancy Rate (%) | 13.1% |
| Net Absorption (SF) | -10,722 |
Although absorption receded back into negative territory this quarter, at -10,722 square feet, it remains well above the significant losses recorded in the second and third quarters of 2022. The consecutive quarters of large negative absorption were aberrations for the largely stable Central Florida office market.
Central Florida Industrial Market Report
1Q23
| Average Asking Rent (Price/SF) | $8.78 |
| Vacancy Rate (%) | 5.0% |
| Net Absorption (SF) | 2,208,976 |
Central Florida鈥檚 industrial market remains healthy with continued robust quarterly net absorption, closing at 2.2 million square feet. This marks a decline of 500,000 square feet from the last quarter, but up more than 900,000 square feet from one year ago.