Rapid Change, New Opportunities and Challenges
The first quarter of 2020 will forever be marked as one of the most dynamic quarters in history for the industrial market throughout the Central Florida market. As the 2020 year began, activity throughout (sales, leasing, construction) remained positive, carrying over from a very robust and active 2019. The flex market continued garnering more attention as tenants look to potentially reduce costs from Class B office space into more affordable and comparative flex space. Interest rates were at near all-time lows, providing cost-effective financing to help bolster and carry on the 10-year record growth of development and investment activity experienced throughout the market. Unemployment in the region, the lowest in recent history and well below the national average, was championed by many in the local market.