Tampa industrial real estate market reports
Industrial insights Q2 2021
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Tampa’s industrial market is robust, fueled by fast-expanding e-commerce and distribution networks, healthy leasing fundamentals, strong occupier interest, and an active speculative development pipeline. Net absorption is keeping pace with new deliveries with 3.3 million sf of space absorbed so far during 2021.
Tampa’s current unemployment rate, which has been falling steadily and is down 930 basis points from the height of the pandemic. Tampa has recently been ranked as a top market by multiple surveys for the performance of its housing market and thriving office and industrial sectors.
Total net in-migration of in the trailing 12-month period ending in 1Q 2021, which represented 1.1% of the population—one of the highest rates in the US.
The amount of leasing activity recorded so far during 2021 compared to all leasing volume during 2020. Demand for large bulk distribution projects remains strong, particularly along the I-4 Corridor into Lakeland.
The total amount of square footage (in millions) that has delivered in Tampa’s industrial market the last three years.
The increase in base rents since the start of the pandemic, which have generally remained on an upward trajectory since 2015.
Total industrial investment volume in Tampa for the period from Jan 2020 through Jun 2021. Industrial volumes have surged +126.4% against the prior five-year average due to stronger fundamentals.
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