Recently, I reviewed Xceligent’s Quarter 2 2017 Industrial Market report.  Here are a few highlights:

  • The unemployment rate decreased 0.6 percentage points (pps) from 4.3% in May 2016 to 3.7% in May 2017.
  • The total vacancy rate mirrored the previous quarter, posting 4.9% in 2Q 2017 versus 6.2% in 2Q 2016.
  • Weighted average rent growth continued to improve during 2Q 2017 – especially in warehouse properties in the Silver Star submarket.
  • Weighted average asking rents of all types increased 9.9% year-over-year, recording $6.33 per square foot (psf) at the close of 2Q 2017.
  • Warehouse/distribution vacancy rates in the Orlando Central Park, Southeast, and Silver Star submarkets continue to be among the lowest in the State of Florida.
  • The largest positives (direct) include Geodis at 1401 Tradeport Drive (141,120 SF) and ABC Roofing at 3362 All American Blvd (116,735 SF).
  • The largest negatives (direct) include Freeman Company moving from Prologis Orlando Central Park South (-242,160 SF) and Auto Boat Storage, Inc. moving from Crossroads Distribution Center Building C (-235,760 SF).