According to a new research report the office and industrial condo markets in Orlando are now growing rapidly.

Moreover, 794,000 square feet was under construction and another 449,000 square feet was in planning. The office condo vacancy rate was 21%, compared with 11.3% for traditional rental space.

The Orlando market, on the industrial side had 1.19 million square feet of condo space. Additionally, 539,420 square feet was under construction and 280,996 square feet was in planning. The commercial condo space market also has seen conversions of existing space to for-sale properties, just like the avalanche of conversions of rental apartments to condos.

Mechanical Services Inc., Orlando, has completed work on Florida Hospital's College of Health Sciences Academic Building in Orlando. Finfrock Design-Manufacture-Construct Inc., Orlando, is handling a 678-space garage for a condo project in North Miami.

On the other hand, AIT Worldwide Logistics rented 17,120 square feet of industrial space at Airport Distribution Center II in Orlando. Kohler Rental Power Inc. leased 18,000 square feet of industrial space at 7454 Narcoossee Road in southeast Orange County. Shaw Contract Flooring Services Inc., Cleveland, Ohio, rented 24,000 square feet of warehouse space at 4201 John Young Parkway in south Orlando. Procaps LP, Quebec, Canada, leased 10,800 square feet of industrial space at 10003 Satellite Blvd. in Orlando. The Primary Group rented 5,762 square feet of office space at Sanlando Center in Longwood.

By M. Sese
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