New construction in Tampa drives increase in industrial asking rents

graph of average asking rate increasing in Tampa, Florida as more square feet is delivered with new construction
  • Tampa’s industrial asking rents have already increased by 5% in 2023, marking eight consecutive years of increase.
  • Annual deliveries have averaged 5.1 million square feet per year over the last five years, driving up asking rates.
  • As new product delivers, asking rates are expected to continue to climb for the near term as supply remains scarce.

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