_metro report · orlando msa · q3 2026
Orlando Industrial Market Report, Q3 2026
Orlando industrial vacancy rose to 9.7% in the third quarter of 2026 while average asking rent climbed to $10.61 per SF NNN. Net absorption stayed positive at 88,636 SF, new deliveries slowed sharply, and 3.48M SF remains under construction. Here is the full quarter for the Orlando MSA, with all 13 submarkets and the largest sales.
10-page PDF · Q3 2026_at a glance
Orlando industrial market, Q3 2026 at a glance
- Vacancy
- 9.7%
- Up 1.4 pts year over year (8.3%)
- Availability
- 12.4%
- Vacant space plus occupied space still listed
- Avg. asking rent
- $10.61
- Per SF per year, NNN. Up 2.2% year over year
- Net absorption, Q3
- 88,636 SF
- Positive, but thin for a 148M SF market
- Net absorption, YTD
- 622,766 SF
- January through September 2026
- Inventory
- 148.5M SF
- 148,482,987 SF across the Orlando MSA
- Under construction
- 3.48M SF
- 3,478,815 SF, about 2.4% of inventory
- Deliveries
- 77,381 SF
- In Q3. 2,123,453 SF delivered year to date
Orlando-Kissimmee-Sanford MSA, Q3 2026. Source: Blackline Research & Market Intelligence. Data updated October 29, 2026.
_key takeaways
Six things to know about Orlando industrial this quarter
- Vacancy across the Orlando MSA reached 9.7% in Q3 2026, 1.4 points higher than a year earlier and 0.2 points above Q2. It was 4.4% in Q4 2023.
- Average asking rent still rose, to $10.61 per SF NNN, a 2.2% gain from $10.38 a year ago. Landlords held concessions flat rather than cutting rates.
- Net absorption stayed positive at 88,636 SF for the quarter and 622,766 SF year to date, even after large move-outs in Southeast Orange County.
- New supply is slowing. Only 77,381 SF delivered in Q3 against 2,123,453 SF year to date, and 3,478,815 SF remains under construction, mostly in Airport/Lake Nona.
- The metro average hides a wide spread. Altamonte/Longwood/Casselberry and Michigan/South Orange Ave sit at 2.8% vacancy while West Orange/Winter Garden is at 14.6%.
- Investors kept buying. The three largest Q3 sales traded between $188 and $230 per SF, led by a $103.0M small-bay portfolio in central Orlando.
_why vacancy rose
Why Orlando industrial vacancy climbed from 4.4% to 9.7%
The 9.7% metro figure is an average. A handful of large exits and a few heavily built corridors pull it up, while the tightest parts of the market still sit under 4%.
Big move-outs
Two large Southeast Orange County users gave back space in Q3: Chrysler vacated 453,000 SF at 10300 Boggy Creek Rd, and Consolidated Hospitality Supplies left 220,000 SF at 1750 Cypress Lake Dr.
More sublease space
More sublease space came to market during the quarter. At least one published read showed direct vacancy easing while total vacancy, which includes sublease space, still rose.
Small deals, big swings
In Q2 2026, roughly 63% of leases were under 10,000 SF and about 28% were 10,000 to 50,000 SF. Fewer than one in ten were larger than 50,000 SF, so a single big lease or exit moves the metro number.
A pipeline still landing
Orlando added more than 20M SF of industrial space over four years. Completions are tapering, but Airport/Lake Nona alone has 3,231,599 SF under construction and 11.4% vacancy.
On the demand side, Millwork Sales leased 575,343 SF at the 200 Building, 4701 Apopka Logistics Pkwy, the largest lease of the quarter. On the supply side, VenturePark Beachline II and III (about 748,000 SF) and Mahogany Pointe Logistics Park (675,000 SF) are both under way in Airport/Lake Nona.
_trend
Orlando industrial vacancy and rent, Q4 2023 to Q3 2026
Vacancy has more than doubled in three years as new supply arrived, yet average asking rent is up about 7% over the same stretch. Construction as a share of inventory bottomed at 1.5% in Q3 2025 and has edged back up to 2.4%.
| Quarter | Vacancy | Avg. asking rent (NNN) | Under construction, % of inventory |
|---|---|---|---|
| Q4 2023 | 4.4% | $9.88 | 3.8% |
| Q1 2024 | 6.2% | $9.12 | 3.4% |
| Q2 2024 | 7.2% | $9.53 | 2.5% |
| Q3 2024 | 7.5% | $9.39 | 2.5% |
| Q4 2024 | 8.1% | $9.74 | 2.2% |
| Q1 2025 | 8.4% | $9.98 | 1.8% |
| Q2 2025 | 8.6% | $10.20 | 2.1% |
| Q3 2025 | 8.3% | $10.38 | 1.5% |
| Q4 2025 | 8.1% | $10.21 | 1.6% |
| Q1 2026 | 9.3% | $10.41 | 1.7% |
| Q2 2026 | 9.5% | $10.42 | 2.1% |
| Q3 2026 | 9.7% | $10.61 | 2.4% |
_submarkets
Orlando industrial submarkets, Q3 2026
Thirteen submarkets across Orange, Seminole and Osceola counties. Vacancy runs from 2.8% to 14.6% and average asking rent from $8.54 to $13.56 per SF NNN. Silver Star/Apopka led year-to-date absorption at 441,379 SF; Airport/Lake Nona holds most of the construction pipeline. For a closer read, see the Sanford industrial market report and the Longwood industrial market report.
| Submarket | Inventory (SF) | Vacancy | Net absorption Q3 | Net absorption YTD | Under construction | Avg. asking rent |
|---|---|---|---|---|---|---|
| 33rd Street/LB McLeod | 5,150,329 | 6.6% | 15,480 | 15,979 | 0 | $11.63 |
| Airport/Lake Nona | 25,794,378 | 11.4% | -40,609 | -82,433 | 3,231,599 | $10.69 |
| Altamonte/Longwood/Casselberry | 4,210,408 | 2.8% | 64,892 | 90,149 | 0 | $13.32 |
| CBD/Winter Park/Maitland | 2,841,743 | 5.1% | -707 | -50,646 | 0 | $12.13 |
| East Orange/University/Forsyth | 4,619,418 | 7.2% | 0 | 123,087 | 0 | $12.69 |
| Lake Mary/Sanford | 9,258,492 | 3.6% | 33,025 | 263,184 | 53,440 | $10.57 |
| Michigan/South Orange Ave | 2,248,137 | 2.8% | 12,056 | 9,354 | 0 | $8.79 |
| Orlando Central Park/SouthPark | 22,312,310 | 8.7% | -155,605 | -226,481 | 0 | $9.87 |
| Osceola/Kissimmee | 6,965,182 | 8.9% | 71,147 | 33,003 | 112,706 | $10.23 |
| Regency/Turnpike/Beeline | 18,424,920 | 5.8% | -25,761 | -95,496 | 0 | $8.54 |
| Silver Star/Apopka | 22,610,888 | 11.8% | 130,036 | 441,379 | 163,000 | $9.35 |
| West Orange/Winter Garden | 4,192,200 | 14.6% | 36,980 | 173,226 | 0 | $12.66 |
| Winter Springs/Oviedo | 780,607 | 6.6% | -14,148 | -14,148 | 0 | $13.56 |
_what it means
What Q3 2026 means for owners and buyers
For owners
- Price your building against its corridor, not the 9.7% metro average. A building in a 2.8% submarket and one in a 14.6% submarket face very different buyers.
- Buyers will underwrite downtime with availability at 12.4%. Occupancy, lease term and tenant quality carry more weight than they did two years ago.
- If your rents sit below the $10.61 NNN metro average, show the mark-to-market upside clearly in your offering.
For buyers
- Absorption and vacancy do not always line up. Silver Star/Apopka led the metro with 441,379 SF absorbed year to date, yet still shows 11.8% vacancy.
- Most new construction sits in Airport/Lake Nona (3,231,599 SF). Underwrite lease-up time on new deliveries there.
- Small-bay product kept trading at firm pricing in Q3, from $188.32 to $230.00 per SF across the three largest sales.
_notable sales
Largest Orlando industrial sales, Q3 2026
The three largest industrial trades of the quarter by price, all multi-building properties. Cap rates are shown where they were disclosed.
Central Orlando Small-Bay Portfolio
7 buildings on about 33.6 acres. Built 1967 to 2002, 16 to 30 ft clear, about 95% occupied.
Seller: Link Logistics Real Estate. Buyer: a BKM Capital Partners and Kayne Anderson Real Estate joint venture.
Closed Sept. 30, 2026
Ocoee Corporate Park
7 new buildings on about 22 acres. Built 2024 to 2025, 20 to 32 ft clear, about 51% leased at sale.
Seller: Stonemont Financial Group. Buyer: Speed Bay Warehouse Solutions.
Closed Sept. 1, 2026
Silver Star Commerce Center
8 buildings on about 19.6 acres. Built roughly 1960 to 1985, 18 to 20 ft clear.
Seller: Denholtz Properties and Long Wharf. Buyer: Speed Bay.
Closed July 2, 2026
_submarket reports
Go deeper: Orlando submarket reports
The metro report shows the whole market. The submarket reports zoom in on a single area, with local sales, rents and what they mean for owners there.
Sanford Industrial Market Report
Vacancy, rents, sale prices and recent sales for Sanford industrial buildings.
Read the Sanford reportSubmarket report · Seminole CountyLongwood Industrial Market Report
Longwood, Casselberry and Altamonte Springs industrial: vacancy, rents and recent sales.
Read the Longwood reportSubmarket reports define their areas more narrowly than the 13 metro submarkets above, so their figures will differ from the matching rows in the table.
_methodology
How these figures are built
Metro figures cover the Orlando-Kissimmee-Sanford MSA (Orange, Seminole, Osceola and Lake counties) and are a simple, unweighted average of five brokerage research firms' published Orlando industrial figures for the quarter, compiled by Blackline Research & Market Intelligence. Published metro vacancy for Q3 2026 ranged from 8.7% to 10.6% depending on the source, which is why we report the average. Submarket figures come from a separate submarket-level series for 13 submarkets, so those columns will not add up exactly to the metro totals. Sale details reflect published transaction records; cap rates are shown only where disclosed.
_questions
Orlando industrial market FAQ
What is the industrial vacancy rate in Orlando in Q3 2026?
Industrial vacancy in the Orlando MSA was 9.7% in Q3 2026, up 1.4 percentage points from 8.3% a year earlier and up 0.2 points from Q2 2026. Availability, which also counts occupied space still being marketed, was 12.4%.
What is the average industrial rent in Orlando?
The average industrial asking rent in the Orlando MSA was $10.61 per square foot per year on a triple-net (NNN) basis in Q3 2026, up 2.2% from $10.38 a year earlier. Submarket averages ranged from $8.54 in Regency/Turnpike/Beeline to $13.56 in Winter Springs/Oviedo.
Why is Orlando industrial vacancy rising?
Three things pushed vacancy up: large move-outs such as Chrysler's 453,000 SF exit at 10300 Boggy Creek Rd, more sublease space coming to market, and more than 20M SF of new space delivered over the past four years. Net absorption stayed positive, but not enough to keep pace.
Which Orlando industrial submarkets have the lowest vacancy?
Altamonte/Longwood/Casselberry and Michigan/South Orange Ave were the tightest at 2.8% vacancy in Q3 2026, followed by Lake Mary/Sanford at 3.6%. The highest were West Orange/Winter Garden at 14.6%, Silver Star/Apopka at 11.8% and Airport/Lake Nona at 11.4%.
How much industrial space is under construction in Orlando?
About 3,478,815 SF was under construction in the Orlando MSA at the end of Q3 2026, roughly 2.4% of the 148,482,987 SF inventory. Airport/Lake Nona accounts for 3,231,599 SF of the submarket pipeline, including VenturePark Beachline II and III and Mahogany Pointe Logistics Park.
What were the largest Orlando industrial sales in Q3 2026?
The largest was the $103.0M Central Orlando Small-Bay Portfolio (546,940 SF, $188.32/SF). Ocoee Corporate Park sold for $59.6M ($230.00/SF), and Silver Star Commerce Center sold for $53.5M ($209.87/SF) at a 5.00% cap rate.
What area does this report cover?
The Orlando-Kissimmee-Sanford MSA: Orange, Seminole, Osceola and Lake counties. The submarket table covers 13 submarkets in Orange, Seminole and Osceola counties. Lake County is part of the metro figures but is not broken out as its own submarket.
Where do the numbers come from?
Metro figures are compiled by Blackline Research & Market Intelligence as a simple average of five brokerage research firms' published Orlando industrial figures. Submarket figures come from a separate submarket-level series, so the submarket columns will not add up exactly to the metro totals.
How can I find out what my Orlando industrial building is worth?
Request a free Broker Opinion of Value from Blackline. Thevin Campton, CCIM, prices it against the comparable sales and rents in your submarket. Call (689) 215-1651 or request one online.
_about the author
What does this market mean for your building?
Thevin Campton, CCIM
Founder & Principal Broker · Licensed in Florida since 2015
Thevin advises private owners and investors on Central Florida industrial property and has $457M+ in career transaction volume. He can tell you where your building sits against this quarter's numbers, starting with a free written Broker Opinion of Value.
This report is for general information only and is not investment, tax or legal advice. Figures are believed reliable but are not guaranteed. Blackline Commercial Real Estate.