Despite Steady Fundamentals, Orlando Posts First Negative Absorption in Recent History
During the third quarter of 2019, the Central Florida office market posted its first quarter of significant negative absorption since the Great Recession. The 245,372 square feet of negative absorption was a result of several anticipated relocations of large tenants from multiple submarkets. This resulted in a slight increase to the market’s vacancy rate, now at 7.6% from the prior quarter’s 7.2%.
