Orlando Industrial Figures - Q3 2026

In Q3 2026, market conditions were relatively stable as vacancy held flat while availability, rents and construction activity shifted modestly quarter-over-quarter. Vacancy remained at 10.6%, but availability improved from 12.8% in Q2 2026 to 11.9%, a 90 basis points decline, as net absorption totaled 25,000 sq. ft. compared with 143,000 sq. ft. in Q2 2026.

Tenants signed 2.56 million sq. ft. of leases in Q3 2026, down from 3.46 million sq. ft. in Q2 2026, while the average asking rent rose from $10.31 per sq. ft. to $10.48 per sq. ft. The construction pipeline expanded, with space under construction increasing from 2.93 million sq. ft. to 3.29 million sq. ft. across 29 properties, even as new supply slowed sharply; deliveries fell from 362,000 sq. ft. to 26,000 sq. ft., and vacancy held flat at 10.6% while leasing softened.

Over the period from Q3 2021 through Q3 2026, the market shifted from tight, high-velocity conditions to a higher-vacancy environment and a smaller construction pipeline. Asking rents trended higher, rising from $8.40 per sq. ft. to $10.48 per sq. ft. and peaking at $10.99 per sq. ft. in Q2 2023.

Leasing volumes were strongest in 2022 at 12.08 million sq. ft., moderated to 9.00 million sq. ft. in 2023, then rebounded to 9.29 million sq. ft. in 2024 and 11.06 million sq. ft. in 2025, while the 8.25 million sq. ft. signed from Q1 2026 through Q3 2026 exceeded the 6.26 million sq. ft. and 5.97 million sq. ft. recorded over the same spans in 2023 and 2024, respectively.