"While the bulk warehouse tenants were in the market, looking for space in the latter part of 2002, most of these were in the 50,000 sf to 150,000 sf range," David Murphy, a vice president in the Orlando office of CB Richard Ellis Inc., tells GlobeSt.com.

"The Orlando market typically attracts smaller regional distribution requirements, so it is likely that a creative marketing effort would be required to maximize the amount of prospects that could be generated for these type of buildings," Murphy says.

CBRE statistics show overall industrial occupancy in the local market is 88.1%, based on fourth-quarter numbers, "but we still faced anemic absorption numbers in 2002," the broker says. "Adding significant blocks of unoccupied industrial space in the market is not a good way for our local industrial market to get healthy."