That's the bad news, says Greg Rebman, president of Maitland, FL-based Rebman Properties Inc. "The good news is that there have been few major exits of tenants from the market, so that the occupancy rate has held firm, even during periods with few leases being signed."

The flat second quarter follows what was the strongest quarter in more than six years. "The strong first quarter was a result of several 100,000+ sf leases in south Orlando," Rebman says. "There were no large leases in the survey area during the second quarter."

The bulk warehouse real estate specialist says statistics to date show the Orlando industrial market "continues to be much more active in building sales than in leasing." Total available space for lease is 1.66 million sf. Under construction is 176,434 sf of new product.

Net absorption through the second quarter was a positive 474,156 sf. Rebman projects the market will show a positive absorption of 750,000 sf by year end.

Greg Rebman's father, Roger Rebman and senior associate Lyle Nelsen, a former Coldwell Banker commercial vice president, have been tracking the bulk warehouse and distribution space market in Central Florida for the last 20 years.