Rebman Properties Inc. of suburban Maitland, FL puts the vacancy level at 16.72% among 150 flex space buildings south of the East-West Expressway. The 16.72% mark is an improvement from the Q3 17.43% vacancy level but both numbers are the highest the brokerage has recorded in 10 years. The highest vacancy level, 45%, was recorded in 1986.

The Orlando office of Colliers Arnold Real Estate Services Co. shows a 14.72% vacancy in 143 buildings totaling 4.77 million sf of rentable space in the southeast Orange County industrial sector; and a 14.75% vacancy in 133 buildings totaling 6.46 million sf in the southwest Orange County industrial market.

Free-rent concessions and generous interior improvement allowances are the name of the game. "Today's commercial real estate tenants have more leverage than at any time in the last five to 10 years and they are using that leverage to their advantage," Paul A. Whiting, owner of Creative Office Environments in suburban Altamonte Springs, FL, tells GlobeSt.com.