Major tenants drive shift in industrial leasing activity in Tampa - United States
Major tenants drive shift in industrial leasing activity in Tampa
Since the onset of the pandemic, industrial leasing demand in Tampa has undergone changes due to the surge in e-commerce, population migration, and strong economic conditions that have fostered business expansion.
The Tampa market has experienced an influx of retailers since 2020, marking a 10% increase in their share of leasing activity. Prominent retail giants such as Home Depot, Ace Hardware, and Best Buy are a few tenants that have expanded or ventured into Tampa amidst the pandemic.
The engineering, architecture, construction, and building materials industry experienced a 4% rise in the share of leasing activity since 2020, leading to 9% of overall activity as of September 2023. The top three leases signed after the pandemic in this sector are Chadwell Supply, Future Development & Design, and Johnson Controls.