Market Reports

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The commercial market report provides economic and commercial statistics on portions of the metropolitan areas in which significant commercial transactions take place. The data are compiled from publicly available statistics and for which information is available.

The reports include market key statistics,  leasing, market economy, and sales trends that provide you with information on the commercial real estate transactions in the Tampa Bay markets.

Office

Industrial

Retail

Multi-family

Tampa’s office vacancy rate stabilized in 2023 thanks to declining suiblease availability and positive office demand in key submarkets. As of the first quarter of 2024, Tampa’s office vacancy is 9.4%, largely unchanged from this time last year.
Tampa’s industrial market vacancy stabilized over the past year, averaging 4.9% as of the first quarter of 2024. This is due to a shift in the construction pipeline to be more focused on buil-to-suits, thus having no negative impact on vacancy upon delivery.
Like many markets across the U.S., supply and demand is out of balance in the Tampa market and is inhibiting deal activity. Retail availability has remained below 4% since mid-2022 and the lack of available space has been impacting leasing activity. The construction pipeline is predominantely preleased or comprised of buil-to-suits, offering little additional opportunity for new market tenants and those looking to expand.
Tampa’s multifamily vacancy reached a decade high in the first quarter of 2024 at nearly 9%, a rise of roughly 150 basis points over the previous year. Supply and demand have been significantly out of balance over the past 24 months, causing a steady rise in vacancy.
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