Expert Sees Crunch in Service Center/Flex Space

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ORLANDO-A growing shortage of developable land in Metro Orlando and the rapid sales of small industrial condo buildings could eat up 600,000 sf of rentable space in the 7.73-million-sf, 84-building service center and flex markets this year. That would bring the product pipeline down to a one-year supply of space by the end of this year, according to a new analysis by Lyle N. Nelsen, the corporate and industrial specialist at Winter Park-based Rebman Properties Inc.

“Crunch time could be coming as more and more of this popular product is absorbed,” says Nelsen who has been tracking the local market as a broker and analyst for the past 26 years. “If we absorb another 600,000 sf this year, as we did last year, we’ll be down to a one year supply of space.” He says “this is especially significant with the critical shortage of industrial land within the Beltway on which to build more space.”