The overall vacancy rate for the Orlando industrial market stood at 6.4%. The year finished with year-to-date net absorption of 2,375,980 sq. ft.
Average direct asking lease rate continued to strengthen, closing the fourth quarter at $6.21 per sq. ft. NNN.
Distribution companies dominated the leasing activity in the fourth quarter. Leasing activity in the Southeast Orange County submarket had the greatest impact on Q4 2017 net absorption.