Orlando Office Market Still Outperforms the Nation, but When Will It End?

While many primary and secondary office markets around the country have been contending with negative rent growth for much of 2023, Orlando has been bucking the trend for the past two years. But what goes up must eventually come down, and the pace of deceleration has been swift in 2023. Rent growth has declined by more than 300 basis points in the past 12 months to a current 2.3%, which is still more than three times the national average.