Tampa Industrial Market Report (Q1 2021)

Tampa Industrial Market Report (Q1 2021) 4 May 2021

While other sectors suffered pandemic-induced distress during 2020, the industrial market flourished, with massive nationwide demand causing rental rate acceleration in most markets. In the Tampa area, asking rents have grown 3.8% over the last quarter to $6.20 per square foot on a NNN basis, and demand for space is so strong that investors continue to scour for opportunities. Dragstrip Logistics Center, a recently built 710,962-sf distribution center in Lakeland that secured Amazon as a tenant in 2020, was just sold for more than $108.7 million, or $153 per square foot, at a 4.2% cap rate.

Click here to download the Q1 2021 Tampa Industrial Market Report