Orlando Commercial Real Estate Rates 2026: Office, Industrial, Retail
Quick Answer: Commercial office space in Orlando averages roughly $27–$30 per square foot per year (full-service) in 2026, with Class A space in the best suburban and downtown buildings running $30–$45. Industrial/warehouse space averages about $10–$12 per square foot NNN, and retail averages just over $30 per square foot NNN. Orlando remains one of the least expensive major office markets in the South.
Orlando Commercial Lease Rates by Property Type (2026)
| Property Type | Avg. Asking Rent (per SF/yr) | Vacancy | Trend |
|---|---|---|---|
| Office – All Classes | $27.45–$29.05 (FS) | 13.4%–20.2% | Rising 3–7% YoY |
| Office – Class A | $28.37–$30.58 (FS) | Tightening | Record highs |
| Office – Class B | $26.47–$27.05 (FS) | Elevated | Up ~10% YoY |
| Office – Class C | ~$24.83 (FS) | 25–40% in worst buildings | Concession-heavy |
| Industrial / Warehouse | $10.29–$11.62 (NNN) | 9.4%–10.2% | Firming |
| Retail | ~$30+ (NNN) | ~4%–8.4%* | Landlord-favored |
*Vacancy definitions differ by brokerage; see methodology note below.
The spread in the office figures reflects different brokerage methodologies. Newmark reports asking rents rose 7.0% year over year to an all-time high of $27.45/SF in Q2 2026, with Class A reaching $28.37/SF and Class B hitting $27.05/SF. CBRE’s Q1 2026 figures put average asking rents at $28.55 per square foot, up 3.1% year-over-year. CommercialCafe’s listing-based data shows a $29.05 average, with Class A at $30.58, Class B at $26.47 and Class C at $24.83.
Office Rates by Orlando Submarket
| Submarket | Class A Asking Rent | Notes |
|---|---|---|
| Downtown Orlando (CBD) | $30–$45+ (FS) | Highest headline rents; older Class B/C discounting heavily |
| Maitland Center | $30–$36 (NNN) | Strongest suburban absorption; Charles Schwab owner-user buys |
| Lake Mary / Heathrow | $28–$34 (NNN) | Seminole County corporate corridor |
| Lake Nona / Medical City | Premium to metro avg. | Medical office $25–$40; life-science industrial $14–$18 NNN |
| Class B Suburban (metro) | $18–$25 (FS) | Deep concessions available |
Broker Michael Linton’s 2026 guidance places Class A Downtown Orlando at $30–$45+ full-service, Class A suburban (Lake Mary, Maitland) at $25–$35 full-service, Class B suburban at $18–$25, and medical office at $25–$40. Class A assets in Maitland Center and the Lake Mary/Heathrow corridor are absorbing tenants at $30–$36/SF NNN in Maitland and $28–$34/SF in Lake Mary.
Why Downtown and Maitland Are Pulling Away
Orlando’s office market has split in two. Class A buildings in Maitland and Lake Mary are absorbing tenants and compressing vacancy, while Class B and C buildings are conceding 6–8 months of free rent and $60–$80 per square foot in tenant improvements. In Maitland, Charles Schwab’s acquisitions have converted roughly half a million square feet of Class A space into owner-occupied holdings, and Travel + Leisure announced a downtown headquarters move consolidating hundreds of jobs in the urban core.
Lake Nona: The Premium Growth Node
Lake Nona commands its premium through specialized space rather than traditional office towers. Life-science and GMP-ready space near Lake Nona Medical City commands $14–$18/SF NNN, a 30–50% premium above standard warehouse rates, and the Lake Nona airport corridor posts 5.42% direct industrial vacancy — the tightest institutional node in the MSA.
Industrial and Warehouse Rates
Orlando industrial rents have held their ground through a supply wave. Avison Young reports asking rents averaged $11.62 psf/NNN in Q4 2025, continuing an upward trend even as growth moderates, with leasing activity stabilized around roughly 10 million square feet annually. CBRE’s Q2 2026 figures show vacancy at 10.2% with average asking rents firming to $10.29 per square foot. Rates range from $7.50–$9.50/SF in emerging South Orlando corridors to $9.50–$11.50/SF near the airport and Lake Nona Medical City, and CBRE has named Orlando a top 10 U.S. market for industrial rent growth in 2026.
The pipeline is nearly empty. Newmark counts the industrial construction pipeline at 931,030 SF, a 71.5% decline year over year and the lowest level since the third quarter of 2015.
Retail Rates
Retail is the tightest of Orlando’s three major commercial sectors. Early-2025 data placed average asking rents near $29.77 per square foot, with mid-year and late-year reports showing rents above $30 per square foot in many submarkets. Cushman & Wakefield reports Orlando’s retail vacancy at 8.4% at the close of Q2 2026, down 60 basis points year over year, with development constrained and limited options for expanding retailers. Southern outlying suburbs and Osceola County remain exceptionally well positioned, with vacancy near 2 percent late last year.
How Orlando Compares to Other Florida Markets
Orlando had one of the South’s lowest average office asking rents at $29.81 per square foot, making it one of only two Southern markets below the $30 threshold, while Miami recorded the South’s highest at $58.41. Orlando’s office vacancy of 20.21% (CommercialCafe basis) runs above the Florida state average of 15.13%.
Frequently Asked Questions
How much does Class A office space cost in downtown Orlando?
Roughly $30 to $45+ per square foot per year on a full-service basis, depending on building age, floor and parking.
What is the difference between full-service and NNN rent?
Full-service (FS) rent includes taxes, insurance and common-area maintenance. Triple-net (NNN) rent excludes them; tenants pay those costs separately, typically adding $8–$12 per square foot in Orlando.
Is Orlando office rent going up or down in 2026?
Up modestly. Brokerages report 3%–7% year-over-year growth in asking rents, driven by Class A demand, while older Class B/C buildings are effectively discounting through concessions.
How much does warehouse space cost in Orlando?
About $10 to $12 per square foot NNN on average, with airport-area and Lake Nona space at the top of the range and South Orlando corridors below $9.50.
Which Orlando submarket has the tightest vacancy?
For industrial, the Lake Nona/airport corridor at roughly 5.4%. For retail, Osceola County and the southern suburbs at around 2%.
Methodology Note
Rates in this guide are asking rents, not effective rents. Effective rents after free-rent periods and tenant improvement allowances can run 10%–20% lower, especially for Class B and C office. Figures vary across brokerages (CBRE, Newmark, Avison Young, Cushman & Wakefield, CommercialCafe) because each tracks a different building inventory and counts vacancy differently. Where sources disagree, the table shows the range.
Brian’s Take
The headline number — Orlando office under $30 a foot — hides the real story. Orlando is now two office markets. If you want Maitland Summit or a downtown tower with a 5:1,000 parking ratio, you’ll pay full price and compete for space. If you’re willing to sign in a 1980s building on the University corridor, landlords are writing $70-a-foot TI checks and handing over half a year free. The effective spread between those two markets is wider than it has been since 2009.
Industrial is the sector to watch. Rents never rolled back during the 2023–24 supply spike, the pipeline is at a decade low, and CBRE expects Orlando to lead national rent growth. Tenants renewing in 2027 should expect the leverage they enjoyed this year to be gone.
Sources and Further Reading
- Newmark – Orlando Real Estate Market Report, Q2 2026: https://www.nmrk.com/insights/market-report/orlando-real-estate-market-report
- CBRE – Orlando Office Figures, Q1 2026: https://www.cbre.com/insights/figures/orlando-office-figures-q1-2026
- CBRE – Orlando Industrial Figures, Q2 2026: https://www.cbre.com/insights/figures/orlando-industrial-figures-q2-2026
- CommercialCafe – Orlando Office Market Trends: https://www.commercialcafe.com/office-market-trends/us/fl/orlando/
- Florida Realtors – Florida’s Office Market Isn’t Just One Story (May 2026): https://www.floridarealtors.org/news-media/news-articles/2026/05/floridas-office-market-isnt-just-one-story
- Avison Young – Orlando Industrial Market Report: https://www.avisonyoung.us/web/orlando/industrial-market-report
- Cushman & Wakefield – Orlando MarketBeats, Q2 2026: https://www.cushmanwakefield.com/en/united-states/insights/us-marketbeats/orlando-marketbeats
- Institutional Property Advisors – Orlando 2026 Retail Investment Forecast: https://www.institutionalpropertyadvisors.com/research/market-report/retail/orlando/orlando-2026-investment-forecast-retail-market-report
- The List Orlando – Orlando Office Real Estate Market 2025–2026: https://thelistorlando.com/orlando-office-real-estate/
- The List Orlando – Orlando Industrial Real Estate Market 2025–2026: https://thelistorlando.com/orlando-industrial-real-estate/
- WareCRE – Orlando Industrial Market Report, Q2 2026: https://warecre.com/cre-insights/market-property-insights/orlando-warehouse-market-report/
- Linton Global Solutions – Florida Commercial Real Estate FAQs (2026): https://www.lintonglobalsolutions.com/faq
