The Office Submarket That’s Recovered and Rising Fast

“The submarket is experiencing a tremendous momentum as no remaining land sites and strong barriers to entry all but guarantee significant rent growth in the immediate future.”

Ron Rogg, executive vice president of CBRE

MIAMI—The Maitland Center submarket in the Orlando area has seen a big turnaround in recent months. It’s official the region’s second largest office submarket with an inventory of 5.7 million square feet, according to CBRE.

With an uptick in leasing activity and increasing lease rates, the total vacancy rate dropped to 10.3% in the first quarter 2017. That’s down significantly from 16.5% in the first quarter of 2016.

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Jennifer LeClaire

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