Orlando, FL Industrial Market Report Q3 2026

12-Month Absorption Turns Negative, Yet Rents Rise 4.2%

Demand

Orlando posted net absorption of -66K SF in Q3 2026, against 1.60M SF in the same quarter last year. Vacancy is 9.5%, 133 bps looser than Q3 2025. NE Orange County is the tightest submarket at 4.9% vacancy; SW Orange County leads rent growth at +4.5%. Trailing-12-month absorption of -369K SF compares with 1.65M SF a year earlier. Asking rent of $14.78/SF is up 4.2% year over year and a record. Vacancy sits 645 bps above the Q4 2022 low of 3.0%.

Supply

Orlando delivered 146K SF in Q3 and 2.79M SF over the trailing twelve months (-29% versus the prior TTM period). Space under construction equals 1.8% of inventory, concentrated in SE Orange County at 3.6% of its stock. Annual deliveries peaked at 8.17M SF in 2023. Q3 deliveries were less than half of last year’s 662K SF.

Investment Market

Orlando recorded $2.4B in sales over the trailing twelve months, +70% against the prior TTM period; Q3 accounted for $581M. The high-water mark in this series is $2.1B in 2025.

Orlando cap rates average 6.37%, down for 6 straight quarters. Pricing sits at $182/SF, higher for 16 consecutive years. The cap rate is 121 bps below the Q1 2015 high of 7.58%. Price per SF is at a record.