Obstacles persist in Orlando office market, but green shoots are sprouting

Orlando’s office market is navigating a period of decelerating space demand, having just endured the worst year for net absorption in more than 25 years. Much of the tenant movement is coming from inside the market, with demand in one area often coming at the expense of another. Little to no speculative office construction is occurring, and most of the new development underway is comprised of medical office space. Here is what CoStar Market Analytics is hearing from local industry players in the Orlando office market in early 2025.