The vacancy rates continue to tick up, raising 30 basis points quarter-over-quarter to 11.7% overall.

The direct average asking lease rate closed the year at $24.76 per sq. ft., nearly unchanged from the previous quarter but representing a 1.5% gain year-over-year.

Four buildings were under construction at the close of 2020 in the Orlando market, totaling
234,000 sq. ft, all located in the suburban markets.

131 S County Club Rd in Lake Mary and 1210 E Osceola Pkwy in the South Orlando Submarket were delivered, adding 28,310 sq. ft. to the market.