Recent numbers in the industrial segment bode well for Orlando real estate. Preliminary studies show the amount of available commercial space decreased by 600,000 square feet during the second quarter. This is the first evidence since late last year that vacancies may be stabilizing.
After two consecutive quarters of slow activity, quarter two numbers are a welcome change. According to commercial Orlando real estate agents, lower prices are driving sales and despite tough times for residential lending, financing is readily available for industrial loans. According to one study tracking industrial buildings larger than 10,000 square feet, first quarter numbers in Orange and Seminole Counties are down 29% from last year. The average commercial sales price per square foot also shows a 16% decrease. However, the preliminary numbers from Q2 should show an improvement. Many believe the market is cyclical and will make a turn around in less than two years.
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