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Tampa Industrial Figures - Q3 2023
October 10, 2023 5 Minute Read
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- Headline vacancy saw a 20 basis point increase in the third quarter, continuing the pattern of fluctuation along the 4% vacancy mark that has been present since the first quarter of 2022.
- Although the construction pipeline remains robust, total square footage dipped slightly as deliveries outweighed ground breakings over the past 90 days. The shift by developers to focus on small to mid sized projects manifested once again as the footprint of all new starts was below 175,000 square feet.
- After breaking the $9.00/NNN barrier last quarter average asking rents took another important stride in the third quarter, growing by an impressive 15.5% year-over-year.