Central Florida Market Updates

Why Orlando & Tampa?

Central Florida continues to benefit from the robust migration patterns, with over 1,500 people moving into both Orlando AND Tampa each week. This trend is forecasted to continue into the next 5 years.

JOBS

Central Florida’s job market has experienced substantial growth across industries, offering diverse opportunities for professionals in healthcare, technology, construction, and the thriving tourism sector. From medical to tech, construction to hospitality, workers in Orlando and Tampa can capitalize on the city’s expanding job market.

AFFORDABILITY

Experience the benefits of affordable living in Orlando and Tampa, where housing costs, the absence of state income tax, and lower utility expenses make it a cost-conscious choice for residents. With a multitude of budget-friendly entertainment and dining options, Orlando offers an appealing lifestyle for those seeking affordability without compromising on quality.

BUSINESS FRIENDLY

Central Florida offers a thriving business ecosystem fueled by pro-business policies, a strategic location, and a skilled workforce. With a robust tourism industry and business-friendly incentives, the city presents an ideal environment for companies to grow and prosper.

Snap Shot

The Orlando Retail Market.

Leasing activity has been very strong over the last several
years in Orlando, with continued strength propelling the activity over the last 12 months.

Limited Available Space

With average vacancies at 3.8%, Orlando is a top market in the nation. The highest vacancies in the metro are with regional malls, but still at only 6.7% vacant.

Robust Demand

Orlando’s retail sector experiences substantial demand, thanks to the rapid growth of its population and the resilience of its regional economy, creating a strong environment for consumer spending. The expanding population and a thriving economy in the region drive the areas continued strength.

Strong Rent Growth

Orlando’s rental market has exhibited remarkable growth, earning it the third position nationally for year-over-year rent growth as of March 2023.
The strong performance reflects the healthy market conditions, making Orlando an attractive destination for real estate investments and tenants seeking rental properties.

Snap Shot

The Tampa Retail Market

Tampa’s economy has demonstrated remarkable resilience in recent years, solidifying its position as one of Florida’s strongest markets. The impressive indicators of job and population growth highlight Tampa’s success, making it an enticing destination for businesses and individuals seeking opportunities in a thriving market.

Rental Rates

The second quarter of 2023 witnessed a notable 8.4% year-over-year increase in rents, reaching $24.33 per square foot. This significant growth reflects a flourishing rental market, showcasing the attractiveness of the market for tenants and real estate investors alike.

Vacancies

Tampa distinguishes itself with an impressive retail market featuring one of the lowest vacancy rates among major Florida markets at 3.0% versus the national average of 4.2%. Tampa is as an attractive destination for retailers, highlighting its strong market performance and potential for business success.

Construction

The remarkable net absorption of 1.5 million square feet in the past year surpasses the pace of new deliveries, indicating a promising landscape for new projects. This presents potential opportunities for developers and investors seeking to embark on new ventures in an expanding market.

Why Orlando & Tampa?

JOBS

AFFORDABILITY

BUSINESS FRIENDLY

Snap Shot

The Orlando Retail Market.

Limited Available Space

Robust Demand

Strong Rent Growth

Snap Shot

The Tampa Retail Market

Rental Rates

Vacancies

Construction

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