Figures

Orlando Office Figures - Q4 2023

January 9, 2024 5 Minute Read

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  • Despite positive absorption totaling 164,217 sq. ft. over the fourth quarter, market wide vacancy remains elevated, up 220 bps year-over year.
  • The construction pipeline emptied with the delivery of Marriott’s new 300,000 sq. ft. HQ at O-Town, with broader economic forces making speculative office development challenging.
  • Average direct asking rents across Orlando sit at $26.95 per sq. ft., up a modest 3.1% on the year.