Smaller spaces, bigger opportunities: Office landlords strategize in Tampa
- Over the past two years, an overwhelming 79% of the office leases signed in Tampa have been under 10,000 square feet, as many companies adjusted their space needs as a result of the increase in remote work. However, only 35% of upcoming expirations over the next two years are for spaces of this size.
- 28% of lease expirations over the next two years are over 50,000 square feet, yet these large spaces have only accounted for 2% of all leases signed over the past two years.
- In an effort to capture future tenant demand, landlords may look to divide these large blocks into smaller spaces to better align with the current demand in the market.
US-FL-TPA Tampa