"Most of the property owners who completed deals with dot-coms were well aware of the risks associated" and took steps to protect their product, CB Richard Ellis Inc. office-industrial specialist David Murphy tells GlobeSt.com.

"Protecting our clients from tenants with questionable creditworthiness" is a major concern for brokers these days, Murphy says.

In Central Florida, the effect of the dot-com failure has had a limited affect since only about 10% of the area's 28 million sf office is wired for broadband service and other more advanced telecommunications modes, Murphy says.

Still, the number of local new firms expanding or contracting in the last 18 months area has dumped a growing amount of subleased space on the market. A new Grubb & Ellis Co. report, for example, puts the first-quarter number at 224,170 sf with 134,207 sf in class A and 89,963 sf in class B. A year ago, the subleased space number might have been at least 50% less.

"Fortunately for Central Florida, our limited exposure to Internet companies has not created an even worse situation by adding failing Internet companies to the ranks of space being dumped on the market," Murphy says.

He credits Central Florida's community of office and industrial brokers with holding the dollar loss from exiting dot-com firms to a minimum.

"Our area's relatively strong industrial market along with brokers and property owners being disciplined about waiting for creditworthy tenants have allowed us to remain an attractive industrial market for property owners and investors," Murphy says.