“One, there is a lack of new supply,” Richey said. “Secondly, demand and increased rents. There's a 1.7% year over year increase in Orlando and a 1.4% increase in Tampa. Underlying class A rents definitely going up much faster. We are going to see rents in Tampa and Orlando over the next two years that we've never seen in our lives.”

Kratz said the pendulum swung to shared office space during the Great Recession. In the past year, though, that pendulum has come back to a middle ground.

“Work from home and startups and remote offices have not worked as well for many tenants as they thought it would,” Kratz said. “They have not been able to shrink their space as much as they thought. Likely, office space will be built around some semblance of hoteling but there will be a physical presence of office that balances the remote nature of work but also the need to be in the office and connected to each other.”

Keaten points to urbanization and walkability as two factors driving office investors toward core markets. “Values continue to drive investors in particularly institutional investors outside of still see the value here,” he said. “Cap rates have compressed but when you look at it relative to Miami, Boston and New York, there's still a lot of room.”

The final thought in the office discussion: Office users are starting to demand more and more space and the ability to put more people in smaller square footage, which is going to increase the demand for parking. That, he said, will be a challenge for office developers in the next few years.

Want more from RealShare Central Florida? Read Five Gurus Sound Off On Central Florida and Orlando Is Booming, But Is Clock Ticking?.

ORLANDO—Central Florida is active—some may say overactive in certain sectors. In any case, there is plenty of room to run and lots of growth ahead, according to our RealShare Central Florida panelists.

A slew of commercial real estate industry leaders gathered for a group discussion on “Active Areas: What's Driving Commercial Real Estate?” Gary Ralston, managing partner at Coldwell Banker Sanders Ralston Dantzier Realty, moderated the panel, which included David Hunter, commercial director for Coldwell Banker Commercial NRT in Central Florida; Justin West, regional manager at Marcus & Millichap; Keith Simmel, principal of Cooper Carry's Hospitality Studio; Kurt Keaten, president of Real Estate Services and Management Services at Franklin Street; Ryan Kratz, president at Colliers; and Larry Richey, senior managing director at Cushman & Wakefield.

“We are seeing tremendous change for medical office,” Hunter said in his opening comments. “The old formats don't work. Significant changes in and around hospitals. Large institutional groups coming in, particularly REITs, looking to take part in that shift.”

On the traditional office front, Richey pointed to some telling stats in his opening comments. He said the office story is two-found in Central Florida.

“One, there is a lack of new supply,” Richey said. “Secondly, demand and increased rents. There's a 1.7% year over year increase in Orlando and a 1.4% increase in Tampa. Underlying class A rents definitely going up much faster. We are going to see rents in Tampa and Orlando over the next two years that we've never seen in our lives.”

Kratz said the pendulum swung to shared office space during the Great Recession. In the past year, though, that pendulum has come back to a middle ground.

“Work from home and startups and remote offices have not worked as well for many tenants as they thought it would,” Kratz said. “They have not been able to shrink their space as much as they thought. Likely, office space will be built around some semblance of hoteling but there will be a physical presence of office that balances the remote nature of work but also the need to be in the office and connected to each other.”

Keaten points to urbanization and walkability as two factors driving office investors toward core markets. “Values continue to drive investors in particularly institutional investors outside of still see the value here,” he said. “Cap rates have compressed but when you look at it relative to Miami, Boston and New York, there's still a lot of room.”

The final thought in the office discussion: Office users are starting to demand more and more space and the ability to put more people in smaller square footage, which is going to increase the demand for parking. That, he said, will be a challenge for office developers in the next few years.

Want more from RealShare Central Florida? Read Five Gurus Sound Off On Central Florida and Orlando Is Booming, But Is Clock Ticking?.