ORLANDO—Market fundamentals are strengthening in Central Florida. Office markets in Tampa and Orlando are witnessing more positive absorption and lower vacancy rates. All this means the scales are tipping toward the landlord once again.

That's the leasing side. On the investment side, buyers, from local high net worth investors (HNWIs) to international sovereign wealth funds (SWFs), are aggressively seeking office properties to acquire across major US office markets, including in Tampa and Orlando.

The bottom line, according to JLL, is that now is a good time to be an office building owner in Central Florida. Indeed, intense capital demand, soaring rents among trophy assets, and rising leasing demand are contributing to a shift towards a more landlord-favorable market, according to JLL's Spring 2014 US Skyline Review.