Grubb & Ellis Sees Strong but Subdued Office Market This Year and Next

ORLANDO-Don’t bring out the crying towels. Shun the I-told-you-sos. And pay no mind to the gloom-and-doomers. Metro Orlando’s 27.7 million-sf office market is going to be strong in 2001 and 2002, but won’t reach the heights of record-setting 2000.

That’s the newest analysis from the Orlando office of Grubb & Ellis Co., a major player in the area’s two million-sf leasing avalanche last year. Still, Grubb’s office specialist Andrew E. McCaw Jr. tells GlobeSt.com, “large pockets of new class A space remain readily available in all submarkets.”

That scenario is especially evident in the suburbs where 2.5 million sf of new construction was under way at year end 2000. No new office is coming out of the ground in the central business district. Compare that zero to 954,650 sf of new space delivered in three Downtown towers in the last two years.