Monday Market Update – October 14th, 2024

As we move into mid-October, there are several key developments in both national and local markets that could shape the future of commercial real estate, particularly here in Orlando. From the recognition of impactful philanthropic efforts by the Calandrino Foundation to shifts in freight and air transport rates nationally, here’s a detailed look at what’s happening and how it might influence your next business move.

1. Philanthropy Spotlight: Calandrino Foundation’s Launch Recognized by Rollins College

In exciting news for our office, the Calandrino Foundation, launched by the Calandrino family, has been recognized by Rollins College in their [September 2024 Class News](https://www.rollins.edu/alumni-supporters/news/class-news-september-2024/). The foundation, created to bridge the wealth gap and empower aspiring entrepreneurs, aligns perfectly with Beyond Commercial’s mission of supporting local business owners and driving economic growth.

The recognition by Rollins highlights the growing interest in giving back to the entrepreneurial community. As the foundation gains more visibility, we expect to see increased collaboration between businesses and philanthropic organizations, further solidifying Orlando as a hub for community-driven growth. For more information on the foundation’s mission, visit [The Calandrino Foundation](http://calandrinofoundation.org).

2. National Trends: Freight and Ocean Rates Fall Amid Labor Strike Recovery

On a national scale, supply chain shifts continue to impact commercial real estate, especially in the industrial and logistics sectors. The latest updates from [Container News](https://container-news.com/unwind-from-ila-strike-begins-ocean-rates-fall-while-air-climbs-freightos-update/) reveal that ocean freight rates are falling as the industry begins to unwind from the effects of the International Longshoremen’s Association (ILA) strike. However, air freight rates are climbing due to ongoing global supply chain disruptions.

For businesses in Orlando relying on imports or exports, this shift in transportation costs could affect both operational costs and the demand for industrial warehouse space. As ocean rates fall, companies that use shipping might benefit from lower costs, possibly leading to a need for more localized warehousing solutions. On the other hand, rising air freight rates may prompt businesses to rethink their distribution strategies.

3. Local Developments: Orlando Airport’s Multibillion-Dollar Modernization

Closer to home, [Orlando International Airport](https://www.orlandosentinel.com/2024/08/25/orlando-airports-multibillion-dollar-spending-spree-will-modernize-aging-terminals-heres-what-you-get/) is undergoing a major modernization effort aimed at improving its infrastructure and capacity. With billions of dollars allocated to updating terminals and expanding facilities, this upgrade is expected to enhance Orlando’s appeal as a global destination for both tourism and business.

From a commercial real estate perspective, this could mean increased demand for hospitality, retail, and service-related properties near the airport. The modernization will likely attract more business travelers and international clients, further boosting the local economy. Additionally, the improved airport facilities will likely contribute to Orlando’s growth as a logistics hub, making it an attractive location for businesses in the transportation and warehousing sectors.

Final Thoughts

The landscape of commercial real estate in Orlando is continuously evolving, driven by local, national, and global trends. Whether you’re a business owner, investor, or looking for guidance on your next move, staying informed about these shifts can help you make strategic decisions.

Stay tuned for future updates on these developments and how they may influence your commercial real estate decisions. For immediate insights or a personal consultation, feel free to contact us at Beyond Commercial.

For More Information:
– Visit [Calandrino Foundation](http://calandrinofoundation.org)
– Read about the ILA Strike Impact at [Container News](https://container-news.com/unwind-from-ila-strike-begins-ocean-rates-fall-while-air-climbs-freightos-update/)
– Learn about Orlando Airport’s Modernization in the [Orlando Sentinel](https://www.orlandosentinel.com/2024/08/25/orlando-airports-multibillion-dollar-spending-spree-will-modernize-aging-terminals-heres-what-you-get/)