Tampa office market reports

Q3 2024

Return-to-office efforts in Tampa sit at 54.1% of its 2019 levels, slightly trailing the national average of 60.4%. However, utilization in Tampa has increased by 3.4% year over year, while the rest of the U.S. has remained stagnant over the same period. Trophy buildings in Tampa have seen the highest return to office, reaching 69.5% of 2019 levels. In contrast, class A buildings have returned at a rate of 54.4%, and class B buildings at 47.9%.

Large leases signed year to date

Tenant demand through three quarters in Tampa continues to center around smaller spaces, with only 6% of leases signed year to date being over 20,000 square feet.

53.4%

Large lease expirations

Over 53.4% leases set to expire in 2025 and 2026 are greater than 20,000 square feet. There are currently 158 existing large blocks available in the market.

$51.31 FS

Trophy rent rates

Trophy space in Tampa continues to command strong rent growth, up 13% year-over-year to $51.31 FS.

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Get in-depth office market reports from commercial real estate experts in the Greater Tampa area. Avison Young advisors look at Tampa commercial real estate activities and the latest Tampa statistics to provide you expert market research on Tampa's office properties.

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