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ORLANDO has 2,266 commercial real estate spaces for lease, representing 26,143,199 sqft space.
824 buildings are available for sale.
In the past 30 days, ORLANDO has had 249 spaces leased and 313 new spaces come on market.
Orlando Office and Commercial Space Overview
The third-largest metropolitan area in Florida behind Miami and Jacksonville, Orlando is known for its tourism and beaches, but the city’s economy is burgeoned by major industry like high-technology, aviation and aerospace manufacturing, and scientific and military research. Over 150 international companies have a presence in the metropolitan area and the region is home to one of the nation’s largest research parks in the Central Florida Research Park. The country’s largest university, the University of Central Florida, is also in Orlando and supplies thousands of new and qualified job seekers to the competitive job market each year.
Orlando also boasts some of the most competitive commercial real estate prices in the nation relative to its size - rates sit at a comfortable $28 per square foot/year. The majority of high profile, high visibility properties are centered around the city’s bustling Orange Avenue corridor, but due to the sprawling nature Orlando and its neighboring communities, businesses working in professional services, manufacturing, and retail should have no problem finding suitable commercial space and office space for lease throughout areas like Wadeview Park, Winter Park, and Oak Ridge to the southwest.
Economy of Orlando
Despite its reputation for tourism, Orlando is a major hub for industry and high technology, with the latter bringing in nearly $14 billion per year and employing over 80,000 people. With heavy hitters such as Lockheed Martin, General Dynamics, Amazon, Mitsubishi, AT&T, Boeing, HP, Northrop Grumman, and Raytheon, the region caters to aviation, research and development, and a heavy military research presence.
Orlando is also home to an important pipeline for the entertainment industry. Universal and Disney both maintain studios in the region and multiple specialized schools for computer and 3D modelling are located within the city.
And of course, tourism makes up a major slice of Orlando’s economic pie, with visitors spending over $33 billion in 2016. Orlando is home to 7 of the 10 most visited theme parks in the country and 5 of the 10 most visited in the entire world.
Trends of Orlando
Orlando is a dynamic and ever-changing city and isn’t as restricted by its geography as other cities its size. With a metropolitan population of 2.4 million and a healthy median household income, home prices are as affordable for single families compared to many other cities of a similar size. As a result, the city has grown by 41% since 2000, offering a major influx of qualified talent to a healthy, but competitive job market.
As one of the few markets with homes sitting below their pre-recession peaks, Orlando is a major attraction for both tourists and young families seeking more space for their money compared to other major cities.
Where to Rent Office Space in Orlando
Companies seeking high visibility in the Orlando area should strongly consider the ample office space available throughout the city’s Orange Avenue and Magnolia Avenue corridor. Home to major international brands, those operating in retail, professional services, or hospitality may want to consider space in this area, but organizations requiring a larger footprint can find ample space throughout the many suburbs and outlying neighborhoods.
Located near the University of Central Florida, the Central Florida Research Park houses such companies as General Dynamics and AT&T. The region’s commitment to high tech industry has made it an important hub for education and research, so companies in these sectors should take a strong look at northeastern Orlando to capitalize on this brainpower.