High-end office properties attract larger tenants in Orlando

• Over the past five years, trophy/class A buildings have consistently attracted significantly larger leases than class B buildings. The average lease size in trophy/class A buildings is 8,784 square feet, more than double the 3,596 square foot average in class B buildings.
• In 2024, the average lease size for trophy/class A buildings reached 9,379 square feet, the largest in the past five years. Meanwhile, class B buildings saw their average lease size drop to 3,148 square feet, the lowest in the same period. This indicates a growing trend in the disparity between lease sizes in trophy/class A and class B buildings.
• Larger companies are opting for high-end space. As of mid-June, 74% of all leases greater than 10,000 square feet have been signed in trophy/class A buildings, compared to just 26% in class B buildings.

June 24, 2024

Additional resources

• Report: The latest quarterly Orlando office market trends
• Orlando’s submarkets adapt to shifting office leasing trends as fundamentals remain strong
• Renewed office tenant optimism fuels new leases and expansions in Orlando

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