#BeyondYourSpaceNeeds Episode 15: Amy Calandrino on Q1 2017 Orlando Industrial Market Statistics

Remember Schoolhouse Rock?  And do you remember Rocky of Schoolhouse Rock? He had a song all about how knowledge is power.

schoolhouse rock

It’s true though.  From reading trade journals, local business papers, and market reports, it’s all relevant to providing a framework for negotiations, timing deals, and other commercial real estate decisions.

This morning, I went through CoStar’s Quarter 1 2017 Industrial Market report.  Here are a few highlights:

  • Vacancy is at 5% which is the lowest combined vacancy figure since 2006

vacancy rate industrial

  • The largest lease signings occurring in 2017 included 144,289 square feet by Niagara and 131,000 square feet by GEODIS Logistics
  • The average quoted asking rents rate was $6.39 per square foot which represents a 0.8% increase
  • Orlando market rental rates are above the national average
  • Southwest Orange County submarket vacancy rate is at 3.5% and Northwest Orange County submarket vacancy rate is at 3.3% while Seminole County submarket is at 7.6%