Demand exceeds supply in Orlando. Photo: Sean Pavone / Shutterstock.com.
While 2020 was a challenging year for office markets across the country, activity is starting to return to the central Florida office market again, according to the Colliers Orlando office's Q4 2020 report.
At the end of the fourth quarter, the average vacancy rate for office space was 9.2%, a significant increase from 7.2% at the end of the fourth quarter of 2019. While almost all markets were affected by the effects of the pandemic, Colliers states that only the East Orange and South Orlando submarkets affected registered positive absorption.