Consistency Prevails Throughout the
Central Florida Office Market
By the numbers, the Central Florida office market in 2019 was stable.
Vacancy has remained relatively unchanged hovering around 7.4%
quarter to quarter, with only one quarter, Q2 2019, bucking the trend
and dipping slightly lower at 7.2%. Although tenant activity was active
and absorption was positive year to date, overall deal velocity was
down for 2019, dropping approximately 23% on a year-over-year
basis in terms of total transactions. Construction was a bright spot
in 2019, as construction activity increased to its highest point in the
fourth quarter to just below 1M square feet, higher than any other
quarter since 2009..
