Why Orlando

Office Market Snapshot Q1 2024 36.5 MSF Orlando Inventory

CLASS A 22.0 MSF

CLASS B 14.5 MSF

Class A Spotlight

SUPPLY & DEMAND

ORLANDO CBD

3.0M

5.4 MSF Inventory

11.9% Direct Vacancy

$31.69 Direct Rent (FS/SF)

2.0M

1.0M

AIRPORT / LAKE NONA

0.0M

1.6 MSF Inventory

26.2% Direct Vacancy

$35.58 Direct Rent (FS/SF)

−1.0M

2019

2020

2021

2022

2023

2024 YTD

LAKE MARY / HEATHROW

Leasing Activity

Construction Completions

Direct Absorption

3.9 MSF Inventory

17.0% Direct Vacancy

$27.94 Direct Rent (FS/SF)

DIRECT RENTAL & VACANCY RATES

MAITLAND

3.2 MSF Inventory

15.6% Direct Vacancy

$25.70 Direct Rent (FS/SF)

$ 27

15 %

$ 26

10 %

TOURIST CORRIDOR / CELEBRATION 3.7 MSF Inventory 10.6% Direct Vacancy $30.17 Direct Rent (FS/SF) UNIVERSITY / RESEARCH PARK 2.3 MSF Inventory 10.4% Direct Vacancy $27.69 Direct Rent (FS/SF)

$ 25

5 %

$ 24

$ 23

0 %

1Q19

1Q20

1Q21

1Q22

1Q23

1Q24

Direct Rental Rate

Direct Vacancy

Cushman & Wakefield | Why Orlando