“Select speculative office construction is occurring in several submarkets including: 108,500 square feet in Lake Mary with The Edison at Primera, 200,000 square feet in Downtown Orlando within the Church Street Plaza mixed-use project, 134,000 square feet in the Southwest Orlando Tourist Corridor with Kirkman Point II, and 165,000 square feet in Lake Nona within the Lake Nona Town Center,” Morrison says. “We don't expect over-building to be an issue, as supply is on pace with demand. Several of the new buildings underway have already achieved significant preleasing, and we expect each to perform well in the long-run.”

Is Orlando ripe for new coworking office space? One expert believes so.

MIAMI—Orlando's speculative office development pipeline is in a state of expansion, corporate relocations continue to put Orlando on their short list, the area's bio-medical, healthcare and tech industries are expanding, and job growth remains strong, Avison Young reports. Heading into the final quarter of 2017, the firm expects office leasing activity to remain steady, allowing for continued positive absorption, that rental rates will continue to strengthen, and that investment sales interest will remain strong as investors scour for opportunities.

“Solid economic fundamentals in Orlando exhibited by consistent job growth and billions of dollars invested in infrastructure improvements continue to underpin the healthy office market,” Greg Morrison, principal and managing director of Avison Young's Orlando operations, tells GlobeSt.com. “While overall vacancy is at 10.7%, vacancies are tightest in Winter Park, Lake Mary, and Southeast Orlando with single-digit vacancies. Absorption is moderating some due to lack of available space.”

(Here's how your office space can become a competitive advantage for your company.)

Downtown Orlando is seeing its first-class A office construction in a decade after the much-anticipated Church Street Plaza—formerly Tremont Plaza—broke ground during the third quarter. The $100 million development is underway with site work and vertical construction expected to begin during the fourth quarter.

“Select speculative office construction is occurring in several submarkets including: 108,500 square feet in Lake Mary with The Edison at Primera, 200,000 square feet in Downtown Orlando within the Church Street Plaza mixed-use project, 134,000 square feet in the Southwest Orlando Tourist Corridor with Kirkman Point II, and 165,000 square feet in Lake Nona within the Lake Nona Town Center,” Morrison says. “We don't expect over-building to be an issue, as supply is on pace with demand. Several of the new buildings underway have already achieved significant preleasing, and we expect each to perform well in the long-run.”

Is Orlando ripe for new coworking office space? One expert believes so.