Smaller spaces, bigger opportunities: Office landlords strategize in Tampa

graph showing differences in Tampa office leases under 10,000 sf and lease expirations over 50,000 sf in the last two years
  • 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.

April 30, 2024

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