Figures
Tampa Office Figures - Q2 2023
July 11, 2023 5 Minute Read
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- New office projects from Tampa’s latest construction cycle welcomed another round of major move-in’s. These assets posted strong absorption for the second consecutive quarter and contributed 291,000 square feet to year to date absorption for the market.
- A reversion in the trend of sublease additions has aided the health of the overall office market as 116,000 square feet of sublease space were absorbed over the course of Q2 2023.
- Average asking rates remained stable this quarter, rising a mere 1.2% year over year. Natural rent growth across the market has continued to be met with downward pressure from availability within new construction diminishing to just a few spaces.