Recently, I reviewed CoStar’s Quarter 1 2017 Office Market report. Here are a few highlights:
Vacancy decreased to 7.9% which is the lowest combined vacancy figure since 2007
The largest lease signings occurring in 2017 included 60,000 square feet by ServiceNow, Inc. at Science One and 22,819 square feet by Shutts & Bowen LLP at Lincoln Plaza in the Downtown market.
The average quoted asking rents rate was $19.70 per square foot which represents a 1.1% increase
South Orange County submarket vacancy rate is at 3.5%, the West Outlier submarket vacancy rate is at 3.4%, and Winter Park submarket is at 3.2% while Altamonte/Douglas Market submarket is at 10.5% and Orlando Central Park submarket is at 18.7%
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