"Developers and investors should be wary, however," Steven M. Ekovich, vice president/regional manager of the California real estate investment brokerage firm, tells GlobeSt.com.
"Office vacancies in these submarkets are among the fastest rising in Central Florida and the resultant competition for tenants has led to largely stagnant rents," Ekovich says.
By comparison, Orlando's 28 million-sf market is showing a first-quarter, 10.8% vacancy level, up from 9.3% in the fourth quarter, according to a separate report by Grubb & Ellis Co.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
