Orlando retail is in full rebound mode. After a challenging few years, the market has demonstrated incredible resilience and has not only recovered from pandemic-related lows but is now exceeding pre-Covid highs in many areas.
Demand for retail space in the Orlando market has been significantly outpacing supply, creating an extremely tight market. The market’s retail vacancy dropped below 4% for the first time in Q4-21, closing the year at 3.9%.
“Between the record-low vacancies and unrelenting demand we are currently experiencing, tenants motivated to enter or expand in the Orlando market are encouraged to act quickly on spaces that become available,” said Terrence Hart, a retail real estate expert with Franklin Street.
“As the strong demand from consumers and retailers continues to drive rent growth, Orlando retail will remain a stable investment,” said Franklin Street’s Mike Battey, who works with retail property owners throughout the market. “While the retail landscape is constantly evolving, we can expect neighborhood and power centers with grocery and a strong mix of service-based tenants to continue performing at the top of the market.”
“The properties we work with throughout the Central Florida market continue to see strong activity from new-to-market tenants as well as existing tenants looking to expand their footprints,” said Franklin Street’s Katy Taylor, who also works with retail landlords. “We expect many new leases and openings over the next 12 months!”