Why is there zero small-bay industrial under construction in Orlando?
Three economic forces converge. First, the development math fails: a 30,000 SF multi-tenant flex park costs $170–$280/SF all-in but only supports $216/SF value at a 6.0% cap on $13/SF NNN rent — underwater in suburban markets. Second, institutional capital has minimum deployment sizes requiring 150,000+ SF projects. Third, in urban submarkets where demand is highest, the land is permanently gone — no entitled industrial parcels remain within OCP, 33rd Street, or CBD/Winter Park.