Tampa industrial real estate market reports
Q1 2025
Tampa’s industrial market is entering a new phase of opportunity as it transitions from peak development to targeted growth. While vacancy rose to 6.9% in the first quarter, it reflects a healthy pipeline delivering space to meet evolving tenant needs. Small bay product remains exceptionally tight at 3.2%, underscoring sustained demand for infill last-mile locations. With construction starts at decade lows and rents continuing to rise, Tampa is well-positioned for a more disciplined, demand-driven expansion cycle ahead.
Deliveries
Tampa’s construction pipeline delivered 1.6 million square feet in Q1 2025—nearly three times the 593,523 square feet completed in Q4 2024.
Asking rents
Vacancy rate
The vacancy rate increased by 90 basis points from Q4 2024, reflecting growing supply from ongoing development, creating new opportunities for tenants.
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