"It is becoming more apparent that the Orlando industrial market is delivering a less than stellar performance compared to that of previous years," Michael Shelton, Grubb & Ellis's vice president, industrial advisory service group, tells GlobeSt.com.

On the positive side, the broker notes that while tenant movement and expansion has decreased, "there are still a handful of large-space users scouting the market."

The strongest evidence the market is softening is in the net absorption column. Although second-quarter absorption of 411,310 sf was 113,986 sf better than first quarter's 297,324 sf, few are betting the full year's total will match the 2.78 million sf in 2000.