Orlando’s commercial real estate market is booming, offering a diverse range of opportunities for businesses seeking to establish or expand their presence in the city. From bustling office spaces to prime retail locations, the options for commercial property for lease in Orlando are vast and varied.

At Global Florida Realty, we’ve witnessed firsthand the growth and transformation of Orlando’s commercial landscape. This guide will help you navigate the process of finding the perfect commercial space to lease in this thriving Florida metropolis.

What Drives Orlando’s Commercial Real Estate Market?

Orlando’s commercial real estate market thrives, driven by a dynamic ecosystem fueled by a robust economy and strategic development. The city’s economic landscape diversifies across tourism, technology, and healthcare sectors, which drive demand for commercial spaces.

Tourism’s Impact on Commercial Real Estate

Tourism remains a cornerstone of Orlando’s economy, directly influencing the commercial property market. In 2022 alone, Florida welcomed over 137 million visitors. This influx of tourists is driving a commercial real estate explosion, particularly in hotels and retail spaces. The constant need for these properties has led to a surge in demand for commercial leases in areas like International Drive and Lake Buena Vista.

Tech and Healthcare Hubs

The Orlando office market shows promising signs. For vacancy, Orlando at 15.6 percent remains low compared with the national average of 22.2 percent. This reflects the increasing demand for office spaces in areas like Lake Mary and Downtown Orlando. Similarly, the expansion of Medical City in Lake Nona has spurred development of healthcare-related commercial properties.

Popular Commercial Areas

While International Drive and Lake Buena Vista cater to the tourism sector, other areas emerge as hotspots for different types of commercial properties:

• Downtown Orlando: The central business district sees a resurgence in office space demand, with Class A properties commanding premium rates.
• Winter Park: This upscale suburb attracts high-end retail and boutique office spaces.
• Lee Vista: This area emerges as an industrial and logistics hub due to its proximity to the airport.

Current Market Trends

The commercial real estate market in Orlando characterizes by several key trends:

• Rising Rents: Office spaces in Orlando are experiencing rent growth.
• Low Vacancy Rates: Industrial properties are particularly in demand.
• Flex Spaces: A growing trend towards flexible office spaces exists, with coworking providers expanding their footprint in the city.

These market dynamics shape the landscape of commercial properties available for lease in Orlando. The next section will explore the various types of commercial properties you can find in this vibrant city, from traditional office spaces to innovative mixed-use developments.

What Commercial Properties Can You Lease in Orlando?

Orlando’s commercial real estate market offers a diverse array of properties to suit various business needs. From traditional office spaces to cutting-edge mixed-use developments, the city caters to a wide range of industries and company sizes.

Office Spaces: High-Rises and Suburban Campuses

Orlando’s office spaces come in many forms. Downtown Orlando boasts sleek high-rise buildings with panoramic views, perfect for businesses looking to make a statement. These Class A properties often feature state-of-the-art amenities and command premium rates. The SunTrust Center (offering over 650,000 square feet of prime office space) stands as a prime example in the heart of downtown.

Suburban areas like Lake Mary and Maitland provide sprawling office campuses with ample parking and green spaces. These locations appeal to companies that prioritize employee comfort and work-life balance. The Heathrow International Business Center in Lake Mary exemplifies this trend, offering over 1 million square feet of office space in a park-like setting.

Retail Locations: From Tourist Hotspots to Local Neighborhoods

Retail spaces in Orlando cater to diverse consumer demographics. International Drive, known for its tourist-centric retail, offers everything from souvenir shops to high-end boutiques. The Orlando International Premium Outlets, spanning over 773,000 square feet, showcases the area’s retail prowess.

For businesses targeting local communities, neighborhoods like Winter Park and College Park offer charming storefronts in walkable districts. These areas suit boutique shops, cafes, and local services perfectly. The Park Avenue shopping district in Winter Park (featuring over 140 boutiques, cafes, and galleries) epitomizes this charming, local retail environment.

Industrial Warehouses: Meeting E-commerce and Logistics Needs

Orlando’s strategic location makes it an ideal hub for industrial and logistics operations. Areas like Lee Vista and the Airport Industrial Park offer modern warehouses with high ceilings, loading docks, and easy access to major transportation routes. The Airport Industrial Park alone encompasses over 1,300 acres of industrial space.

E-commerce businesses find Orlando particularly attractive due to its proximity to major population centers and efficient distribution networks. The Orlando Central Park, spanning 740 acres, offers a variety of industrial spaces for lease.

Mixed-Use Developments: Blending Urban Living and Working

Mixed-use developments gain popularity in Orlando, offering a blend of residential, commercial, and retail spaces. These developments create vibrant, walkable communities that appeal to both businesses and residents. The Creative Village in downtown Orlando stands out, offering mixed-use space designed to foster innovation and creativity.

Another notable mixed-use development, Lake Nona Town Center, combines office spaces, retail, and residential units in a master-planned community. This 100-acre development attracts businesses in the healthcare and technology sectors, thanks to its proximity to Medical City.

As you explore these diverse commercial property options in Orlando, you’ll need to consider several key factors to ensure you choose the right space for your business. Let’s examine these crucial considerations in the next section.

What Should You Consider When Leasing Commercial Property in Orlando?

Location and Accessibility

Location remains paramount when leasing commercial property in Orlando. Factors such as proximity to high-traffic areas, visibility, footfall, and the overall desirability of the location can influence the rental price. You need to consider accessibility for both employees and customers. A retail space near the Orlando International Airport might benefit from high foot traffic, but could pose challenges for daily commuters. Analyze the area’s traffic patterns, public transportation options, and parking availability to ensure your chosen location aligns with your business needs.

Space and Layout Assessment

Size and layout are key considerations. The average square footage per office employee in Orlando is estimated to be around 200 square feet (though this varies by industry). Tech startups often prefer open floor plans with collaborative spaces, while law firms might need more private offices. Factor in future growth when choosing a space. It’s often more cost-effective to lease slightly larger premises than to relocate shortly after establishing your business.

Lease Terms Understanding

Lease terms in Orlando can be complex. Commercial leases typically range from 3 to 10 years, with longer terms often offering more favorable rates. However, longer leases also mean less flexibility. Pay close attention to rent escalation clauses, which are common in Orlando’s growing market. These clauses can increase your rent by 2-3% annually, significantly impacting your long-term costs.

Amenities and Infrastructure Evaluation

The amenities and infrastructure of a commercial property can significantly affect your operational costs and employee satisfaction. Properties in Downtown Orlando often come with higher-speed internet options and backup power systems (crucial for tech companies). Industrial spaces in areas like Lee Vista might offer better loading dock facilities and parking for large vehicles. Always verify the condition and age of HVAC systems, as Florida’s climate puts heavy demands on cooling systems.

Zoning and Permits Navigation

Zoning regulations and permits in Orlando can be intricate. The City of Orlando’s Planning Division has specific requirements for different business types. If you’re leasing space for a restaurant in the Downtown Orlando area, you’ll need to comply with additional health and safety regulations. Always check if your intended use aligns with the property’s zoning before signing a lease. Failure to do so can result in costly modifications or even force a relocation. To navigate these complexities, consider reviewing our essential Florida real estate research tips for a more comprehensive understanding of local regulations and market trends.

Final Thoughts

Orlando’s commercial property landscape offers numerous opportunities for businesses across various industries. The city caters to diverse commercial needs, from downtown high-rises to suburban office parks and tourist-centric retail spaces. Orlando’s robust economy, driven by tourism, technology, and healthcare sectors, fuels demand for commercial property for lease in Orlando.

Finding the ideal commercial space requires careful consideration of location, accessibility, space requirements, lease terms, amenities, and zoning regulations. These factors highlight the importance of working with local real estate experts who possess in-depth knowledge of Orlando’s market trends and regulations. At Global Florida Realty, we bring expertise to help you find the perfect commercial space for your business.

Our team’s extensive experience in the Orlando market allows us to identify properties that meet your current needs and align with your long-term business goals. We understand the nuances of different neighborhoods (from International Drive to Lake Mary). Global Florida Realty can streamline your search and ensure a seamless leasing process for commercial property in Orlando.