Tampa industrial real estate market reports
Q2 2023
Tampa’s industrial market has seen remarkable growth and development as evidenced by a 37% increase in rental asking rates over the past five years. Despite this increase, rental rates in Tampa are still considerably lower than other Florida markets. The market is experiencing a heavy influx of new development activity and is on pace for a new record in deliveries this year. Leasing activity has softened compared to recent years but remains higher than pre-pandemic levels.
Increase in rental asking rates
Industrial rental rates have surged in Tampa over the past five years while still remaining significantly lower than in other Florida markets.
Deliveries year to date
Continuing the trend of recent years, Tampa’s industrial development activity is expected to set a record for highest deliveries with another 4.8 million square feet under construction.
Decline in leasing activity
Leasing activity is down from the same time in 2022 but remains notably higher than pre-pandemic levels.
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