ORLANDO—Orlando's office market is spiking. Lake Mary, FL recently saw a mega lease—the largest in the submarket so far this year at 108,000 and an International Drive office building sold for $65 million in July. Those are just two of the many notable leases and acquisitions I've covered this year.
What does this fourth quarter of 2015 hold for Orlando's office market? Greg Morrison, principal and managing director of Avison Young in Orlando, offers some insights and data points.
“Office market in Orlando has good momentum in 2015,” Morrison tells GlobeSt.com. “Vacancy currently stands right 17% and is improving. Over 500,000 square feet has been absorbed this year already.”
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