Tampa office market reports

Throughout 2025, the Tampa Bay office market has consistently exhibited healthy performance metrics. It continuestobeone of the only markets in the nation to show positive leasing growth when comparing 2025 to 2019. Additionally, the region has experienced an 18% increase in employment over the sameperiod, highlighting the area’s expanding labor force and increased office utilization. Westshore continues to prove itself as the epicenterof the office market, accounting for more than one third of total leasing activity. In Q3, office sales volume reached $98 million –up significantly from $21 million in Q2-signaling growing investor confidence in the office market. Despite elevated vacancy rates, forecasted positive absorption as a result ofupcoming commencements is expected to apply downward pressure to vacancies.