Office Space

Metro Orlando's office market is among the 'Top 10' in the country. It has more than 8.8 million square feet of Class A office space. The total space is more than 23.8 million square feet contained in more than 450 office buildings. New office buildings are going up all over Metro Orlando. Downtown Orlando, University corridor, Maitland corridor, and the Lake Mary corridor are the hot spots.

Occupancy is currently at about 93 percent overall. Quoted average lease rates in Downtown Orlando for class A space are about $22 a square foot; and about $16.00 to $28 per square foot for Class A space in the suburbs. The range is about $11 to $28 per square foot overall.

The Central Florida Research Park adjacent to the University of Central Florida, is considered one of the top 10 research and development centers in the world. It has a cooperative effort between Orange County and the university, and serves as an ideal location for high-tech and scientific businesses that can benefit from the park's relationship with the university.

Industrial Space

The Metro Industrial space market consists of more than 68 million square feet, on over 20,000 acres. Almost two million square feet of warehouse and distribution space was added since 1995. Orlando, a key distribution center keeps the occupancy rate for industrial space at more than 90 percent.

The majority of industrial space is in the more than 60 business parks in Metro Orlando. Most of the business parks offer platted sites with utilities in place. Some provide natural gas and rail service.

Business Incubators

Metro Orlando has two business incubation centers. One, located in Sanford in Seminole County. Its mission is to stimulate growth in the manufacturing sector through serving the needs of small manufacturers by offering affordable space and shared services and equipment It is located at the Port of Sanford and has 12,000 square feet of space which can be divided into 1,500 square foot bays or combined to produce larger spaces For information contact: Port Authority Director at 407-322-4798.

The other is located in Orange County and its purpose is to assist small businesses to develop and succeed. For information contact: OCBI at 407-236-9716.