Skip to main content Skip to footer

Q1 2021 Central Florida Office Market Report

Download Report

Executive Summary

During the first three months of the year, the Central Florida office market indicators showed that the COVID-19 outbreak had a significant impact on vacancy rate and market absorption whereas asking rental rates remained competitive. As tenants reevaluated space needs, some immediately opted to sublease any unused vacant space, which doubled the amount of sublease vacancy in the market. In the first and second quarters of last year, office workers were mandated to work from home due to the COVID-19 pandemic bringing physical occupancy of buildings to near zero. In the first quarter of this year tenants began to return to work, increasing physical occupancy in the CBD and the suburban markets, especially among large companies that brought back 35%-40% of their workforce.


alt=""

Q1 2021 Central Florida Office Market Report

Download Report