The overall vacancy rate for Q2 2020 stood at 8.1%, up 70 basis points (bps) from the previous quarter and increasing 190 bps over Q2 2019.
Orlando’s industrial market finished Q2 2020 with net absorption of 758,046 sq. ft.
The direct average asking lease rate for Q2 2020 is $6.88 per sq. ft., a $0.09 increase over Q2 2019.
During 2020, REITs were the most active buyer segment in the market, 22.9% were private buyers and 7.8% were institutional buyers. On the seller side, 66.6% of the sellers were listed REITs, 24.1% were private sellers and 7.8% were cross-border sellers.