Most of the news we’ve read about the real estate market in recent years has been pretty depressing. But, the news is actually quite exciting for Central Florida when it comes to commercial real estate.
Did you know recent reports have ranked Central Florida at 9th in the USA for new commercial real estate construction? It may seem surprising, but it’s a reality. In addition, occupancy rates in the downtown area of Orlando, the largest metro area in Central Florida, increased in quarter four of 2010 as compared to 2009. So, while the vacancy rate still remains in the high teens for the central Florida, the occupancy numbers keep increasing, which means over time there be more competition for the office space that is available.
Central Florida has also been ranked 3rd in the USA for growth in commercial real estate. So, it’s clear that the Orlando metro area and surrounding Central Florida counties are getting ready for a boom.
Commercial real estate in Central Florida has been growing for several years and for much of the boom we have Disney, in part, to thank for some of the growth it has brought to the area. After moving much of the Disney empire to Central Florida, it helped improve the economy and create one of the largest tourist industries in the world. Disney also gave others the concept that Central Florida was a great place to locate their own businesses. At first, this commercial growth expanded primarily to other businesses similar to Disney’s: those in entertainment, hospitality, and tourism.
In the last few years, however, we’ve seen a large surge of new businesses in Central Florida in all segments of the commercial market. Many companies are finding Central Florida a great place to move their businesses because of the family friendliness of the towns, the wonderful weather, and because of how welcoming the area has been to new businesses. That’s right; growth often leads to more growth, as businesses see an area like Central Florida responding to the needs of the business community.
Luxury Housing Helps Grow Orlando Area Office Space
Growth in the commercial real estate market in Central Florida is parallel to the growth of the luxury home market. All the trends are related. As the entertainment industry began to move into central Florida, it brought with it many celebrities and other highly paid business people looking for luxury homes. As the luxury home market grew to accommodate these residents, it created even more need for businesses in the area, to provide goods and services for these high-end neighborhoods.
So, if you’ve been one of the many people who believe that all the news in the real estate market is bad news; think again. The Central Florida commercial real estate market is growing and continuing to provide a bright spot in an otherwise dull market.
If you’re a business owner looking for a place to move your business; don’t overlook Central Florida. Contacting a knowledge Central Florida area commercial realtor is important because of the many differences that exist among commercial and residential real estate, like for example zoning and other city rules.
Would you like to talk to an expert in Central Florida's commercial real estate? Interested in Florida real estate or Orlando office space? RealtyExecutivesFL.com specializes in the Central Florida real estate market. Contact us online or call us at 1.888.HOME.427 and let us help you with all of your real estate needs.