Tampa industrial real estate market reports
Q3 2024
Tampa's unemployment rate was 3.7% at the end of August—up 30 basis points year over year, yet still below the national average of 4.2%. Over the past year, nonfarm employment grew by 1.6%, with the construction sector rising by 4.2% and the manufacturing sector increasing by 2.3%.
6.5%
Vacancy rate
The industrial vacancy rate has increased 1% year over year to a total of 6.5%.
6.8 msf
Leasing activity
Leasing activity in Tampa totaled just over 6.8 million square feet at the end of the quarter, trailing last year’s levels by 28% through the first three quarters.
$10.20 psf
Asking rates
Asking rates have seen continued growth, with the current average of $10.20 per square foot (psf) NNN reflecting a 19% increase year over year.
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