Orlando rose over other markets in the ranking amid sub-4 percent vacancy.
Local establishments will create 32,000 positions during 2016, representing a slight moderation from last year’s pace of growth.
Completions will increase from 4,800 units in 2015 to 5,600 rentals this year. More than 1,700 apartments are on tap in South Orange County, the location of a large number of leisure and hospitality employers.
Additions to stock will outpace net absorption of 4,300 units, raising vacancy 50 basis points to 3.9 percent. The vacancy rate tumbled 90 basis points last year.
The average monthly rent will reach $1,100 this year, 5.3 percent more than the year-end level of 2015. A gain of 6.9 percent was posted during 2015.
Interest in properties in Orlando’s downtown and legacy suburbs including Maitland, Winter Park and Lake Maryremains intense. Properties in outlying Lake County communities and outside of the metro in Polk County will command scrutiny, but also higher cap rates.
This corner 7+/- acre parcel is high & dry with over 400′ frontage on Styles Blvd & over 500′ frontage on Lindfields Blvd.
Great parcel for Multi-family apartments, condos or timeshare; potential mixed use retail or senior service facility.
Lease Type: Commercial
Lot Size: 7 AC
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