•The overall vacancy rate for Q4 2018 stood at 8.9%, compared to 9.5% in the previous quarter, and is down 120 basis points (bps) from Q4 2017.
•Orlando’s office market finished Q4 2018 with net absorption of 225,428 sq. ft., continuing the positive run that has been exhibited over the last several quarters. This brings the year-to-date net absorption to 731,077 sq. ft.
•The direct average asking lease rate stood at $22.97 per sq. ft. Looking at the year-over-year change, there was a $2.17 increase from Q4 2017.
•Five buildings were under construction at the close of Q4 2018 in the Orlando market, totaling 516,116 sq. ft.