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"It's a small world after all..." - Walt Disney, maybe
Orlando Truck Parking Recap
Jose Lorido
April 17, 2023
This past week the team hit the road, our natural habitat, and decided to take another trip up and to the left visiting sites in Orlando, FL. It’s unique, let me tell you why…
But first, here’s what’s happening in your neck of the 🌲 woods…
🗞📰 "Truck parking shortage: Why it's a big problem for America's supply chain" by Chris Isidore, published by CNN Business on March 2, 2022. Safety concerns…as truckers are forced to park in unsafe areas, such as on the sides of highways, which can lead to accidents and theft.
🗞📰 "How to tackle the truck parking crisis" by Daniel C. Brown, published by FreightWaves on February 18, 2022. Interesting points across or SHAMELESS PLUG visit us @ Rig Hut
🗞📰 "States' solutions to the truck parking crisis" by Timothy Ronan, published by FleetOwner on January 18, 2022. Some states expanding rest areas and adding more parking spots, as well as implementing new technologies like electronic signs to alert drivers to available parking spots (I guess that’s one way to leverage tech in ‘23…)
Region Spotlight 🔦
O-Town aka Orlando, Florida aka The Happiest Place on Earth aka Central Florida
Why Orlando?
Central Location: Located in the heart of Florida, the region has access to major highways and transportation infrastructure, such as the I-4 corridor, which runs from Tampa to Daytona Beach, and is within a day's drive of 60% of the state's population.
Strong Economic Growth: Driven by its thriving tourism industry and the presence of major corporations such as Disney, Universal, and Lockheed Martin.
Diverse Industry Base: In addition to tourism and entertainment, Orlando has a diverse economy that includes healthcare, education, and high-tech industries. This diversity has led to a wide range of demand for industrial space, from traditional warehousing to research and development facilities.
Skilled Workforce: Orlando has a large and skilled workforce, with a high concentration of logistics and transportation professionals. This talent pool is attractive to businesses looking to establish or expand their operations in the area.
Some stats…
As of Q4 ‘22, Orlando’s industrial market totaled nearly 134m SF with vacancy rates at just 1.78% market wide
South Orlando, comprising of Orlando Central Park, Airport/Southeast, and Southwest submarkets total over 68m SF with 1.31% vacant
With 10.8M SF of new buildings to be delivered, and the already tight industrial market, there is one thing we see across the board…a lack of truck parking supply…
Streets to know: Taft & Orange (West of the Airport), Narcoossee, and Seminole Ave
Some boots on the ground 🚛 stats…
When looking at TP, East of the Turnpike, West of the Airport is where the party is at.
We came across a total of ~12 for-purpose truck lots in the area (mostly up and down Taft)
Some examples? RYD Truck Parking, the boys at Discount, and new players such as FL TP
Much of the product is promoted as “paved” yet, almost none are asphalted but trucker either seem to not care just yet or haven’t had the opportunity to need to decide…tbd
Some brand new, large-scale product has shown up in the Airport North section of town but most of product all seemingly strongly filled is along
Point to note, you’d expect more lots closer to I-4 but we found herding closer to the airport
Wondering what 🚛 rates are here…🎤: Avg. $310 / Monthly Truck + Trailer (March ‘23)
Rig Hut Lot Spotlight: Horsham Truck Parking (Where are my Philly Fans At?!)
We are only a few minutes away from the Pennsylvania Turnpike and Route 611!