Tampa industrial real estate market reports

Tampa absorbed 245,505 square feet in Q3 with vacancy steady at 7.2%, but the defining shift is a 70% drop in the developmentpipeline since Q3 2022, down to 2.45 million square feet, setting the stage for supply scarcity that will shape the market’s next phase. Leasing velocity is diverging, with Class B/C assets moving efficiently in 5-6 months as cost takes priority, while Class A space, though averaging 7.8 months, continues to attract high-credit tenants in a what will be a more constrained environment. Q1-Q3 sales volume totaled $572.2 million, reflecting a balanced mix across industrial asset subtypes. With construction slowing and demand steady, Tampa is positioned for rent growth and stronger landlord leverage into late 2026.