Q3 2018 Tampa Bay Office Market Report

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Tampa Bay Market Records Highest Net Absorption in Over 10 Quarters

The Tampa Bay market saw a significant rebound from the negative absorption the prior quarter, marked by more than 500,000 square feet in positive absorption, bringing the market back to equilibrium. Total vacancy rate has dipped below 10% for the first time since the Great Recession alongside increasing rental rates across nearly all asset classes and submarkets. For the past 24 months, the market has absorbed, on average, approximately 178,000 square feet each quarter.

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Q3 2018 Tampa Bay Office Market Report

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