Orlando Office Market Experts Share Insights At Colliers Executive Exchange Event

Over 80 industry professionals attended Colliers Florida’s “Let’s Talk Office” Executive Exchange event on Sept. 18 at the Citrus Club in Orlando.

The panel featured a diverse group of Central Florida office market experts sharing valuable insights and the latest trends in office commercial real estate.

Colliers’ Alex Evans, managing director and Orlando market leader, and Jessica Sirianni, office services associate, moderated the panel, which covered the future of the area’s office market, focusing on shifts in lending, access to capital and Federal Reserve interest rates; trends in office users’ preferences and navigating the return to office; attracting businesses and talent to the area; and more.

“The panel discussion was undoubtedly the highlight of the event,” Evans said. “It embodied everything the Colliers Executive Exchange event series stands for – dynamic conversation, fresh perspectives and real industry insight.”

Strong attendance and thoughtful questions underscored how top-of-mind the office asset class is for commercial real estate professionals, clients and partners. Evans shared that the curated panel was perfectly suited for the moment, and the open interaction encouraged between guests and panelists made the discussion more engaging and insightful.

“It was exactly what we hoped for,” said Evans. “The energy in the room, the caliber of dialogue and the engagement from attendees all came together to make it a standout moment. By all measures, it was a tremendous success.”

According to Evans, Orlando continues to stand out as a dynamic and resilient market.

“Orlando’s growth story is backed by real numbers – 78,500 new residents and over 31,000 new jobs added year-over-year, led by key sectors like healthcare, education and construction,” he said. “With Orlando’s office vacancy holding near 13.5%, below the national average of roughly 19%, and Class B space capturing the majority of recent leasing activity, the region continues to attract high-skill industries and long-term investment.”

Panelists included:

• Joe Rossi, Executive Vice President, Colliers
• Rebecca York, Senior Vice President, ServisFirst Bank
• Ryan Young, CEO and Co-Founder, Interstruct Design + Build
• Marilyn Russell, Principal & Director of Workplace Strategies, Baker Barrios
• Jack Bojinov, Director of Economic Development, Orlando Economic Partnership

The discussion also covered possible uses for large blocks of office space available in the market and vacancy rates in this sector.

“When it comes to vacancy rates, we’re tracking better than the national average this year,” Rossi said. “There’s not been a ton of absorption in recent quarters, but we are definitely tracking better than the national average.”

York shared that office lending has been difficult because of the region’s vacancy rates – however, financing deals in the medical office space and for owner-users are among the easiest for her bank to do, currently. Panelists also discussed the recent Federal interest rate cut and anticipated cuts.

“We do have a genuine concern that the Fed announcing its lowering interest rates two more times before the end of the year will delay getting deals done, as buyers drag their feet in the hope of getting a lower rate,” York said.

When it comes to attracting employees back to the office, panelists agreed that location preferences and building amenities are changing.

“We have been seeing employers interested in creating retreat spaces, making coffee bars bigger, building more break rooms and wellness rooms,” Russell said. “Golf-simulators have also become popular, going beyond just video games.”

The discussions reflected the region’s unique ability to attract talent, investment and innovation.

“Orlando’s economic momentum is noteworthy, particularly as it relates to the office market and companies expanding or relocating here,” Sirianni said. “Orlando has had strong job growth, population growth and GDP growth. It is one the fastest growing mid-sized cities in the country and it ranks second for tech job growth among large metros. These strong economic fundamentals combined with a robust talent pipeline make Orlando an attractive market for office investors.”

Panelists also agreed that attracting and retaining strong businesses and a talented workforce is a key element in the health of Central Florida’s office market. The Orlando Economic Partnership’s role is to sell Orlando to individual workers and office users.

“We have a robust talent pipeline in the area, with several higher education institutions within a two-hour-drive radius, and a central location in the state with access to great flights and roads,” Bojinov said. “Our tourism is also a big driver, bringing millions of people to our community every year, which helps keep taxes low for businesses and residents. These advantages position Orlando to deliver on the Orlando 2045 vision – becoming the No. 1 place to live in the nation, a Top 10 global innovation hub and a region of connected 15-minute cities.”

When asked about how their teams are using artificial intelligence at work, Young said, “AI is not replacing our design or work team, but it has been an effective tool in helping with things like pricing details and administrative tasks.”

Each Colliers Executive Exchange thought-leadership session brings together a curated group of professionals to explore key topics, market shifts and emerging opportunities across various commercial real estate sectors.