Office, Retail Face Big Hurdles

The initial phase of a growth cycle is under way in Orlando, sparked by local companies that have finally decided to rehire employees. Over the past 12 months, 18,100 jobs were created in the MSA, a 1.8% gain. Local employers were expected to add 7,000 workers during the first quarter alone. By year’s end, Orlando employers will move forward in the process of rebuilding staff s depleted by the recession, adding 23,500 jobs, a 2.3% gain compared to 2010 when only 15,600 positions were created. Job growth has prompted greater demand for apartment units, which has resulted in low levels of distress in that sector. The retail and office sectors, however, face higher levels of distress that financiers and investors will have to deal with over the next few years.

Apartment Sector to Outperform