The overall vacancy rate for Q3 2019 stood at 6.7%, up 50 basis points (bps) from the previous quarter and increasing 90 bps over Q3 2018.
Orlando’s industrial market finished Q3 2019 with a year-to-date net absorption of 330,010 sq. ft. The quarterly absorption for Q3 2019 is a negative 505,221 sq. ft.
Orlando’sdirect average asking lease rate stood at $6.80 per sq. ft., only a $0.02 increase over the previous quarter but a $0.39 increase over Q3 2018.
Real Capital Analytics (RCA) reports that during 2019, 31.7% of the buyers were institutional buyers and 52.5% were private buyers. On the seller side, 13.1% of the sellers were institutional sellers and 77.1% were private sellers.