According to the survey, the majority of the city's inventory ofoffice condo space (79%) and industrial condo space (75%) has beenbuilt over the past six years. Orlando has 1.17 million sf ofoffice condo space, which represents 4% of the total Orlando officemarket. In addition, 794,000 sf is under construction and another449,000 sf is in the planned or proposed stages. The largestconcentration of office condo space exists in Downtown, with635,426 sf and another 473,000 sf under construction.

The city has 1.19 million sf of existing flex/industrial condospace, which represents 1.5% of the total industrial market. Thereis 539,420 sf under construction with another 280,996 sf in theplanned or proposed stage. The survey included office andindustrial buildings 20,000 sf or greater. The largestconcentration of flex/industrial condo space exists in theAirport/Southeast submarket with 438,724 sf of existing space andanother 223,400 sf under construction.

"To contend with traditional condo concerns or limited expansionflexibility and high initial investment, developers have offeredunique financing and incentives, as well as setting aside a portionof condo space for rent," Tom McFadden, GVA Advantis seniordirector of industrial services, tells GlobeSt.com.