How has Orlando’s class A and class B office availability changed over the years?

Orlando’s office market experienced a 5.7% increase in availability over the last three years, fueled by a decrease in demand for office space and 1.1 million square feet of new construction delivered.
From 2020 to 2023, class A buildings sustained a significant 9.4% increase in availability, with the University/Research submarket seeing the largest jump of 23.3% during that time.
Class B properties have seen a more modest increase of availability by 2.3%. Notably, Downtown Orlando is one of just two submarkets where class B availability has decreased. This trend suggests a preference among certain employers for proximity to amenities and a robust employment hub over asset quality.

March 13, 2024

US-FL-ORL Orlando