Depending on which brokerage's statistics are used, one scenario is clear: vacancies are heading higher in every category. For example, first-quarter office is either at 15.5% or 18.7%; industrial, 9.6%; bulk distribution, 14.94%; and service center/flex, 16.74%.
"If a tenant can't cut a deal now, he never will," Dean Fritchen, senior associate, Arvida Real Estate Services Commercial Division, Winter Park, FL, tells GlobeSt.com.
Cushman & Wakefield of Florida Inc. puts metro Orlando's overall office vacancies at 18.7%, up from 17.1%. Industrial is at 9.2%. Grubb & Ellis Co. shows office vacancies at 15.5%, up from 14% in fourth quarter 2001.
Bulk distribution centers are at a 14.94% vacancy level and service center/flex space is at 16.74%, according to Rebman Properties Inc. of Maitland, FL.
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