Things are looking sunny for Orlando's office market. The latest report from JLL analyzing the fourth quarter and the full year of 2024 found that key fundamentals in the market improved from occupancy to higher rents.
Orlando's office sector ended the year by positively absorbing 7,000 square feet of space. That's a turnaround from the negative territory the category saw last year, as move-outs were "significant" in 2023, according to JLL. Vacancy dropped 10 basis points to 15.5 percent in 2024.
"Several submarkets saw a healthy uptick in move-ins including Maitland, Lake Mary, and Lake Nona," the real estate firm wrote.
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