Tampa Office Figures Q3 2021
October 22, 2021
- Delivery of Thousand & One at Water Street this quarter attributed to a 110 basis point increase in total vacancy to 17.7%. Direct vacancy sits at 15.1%, representing a 2.7 percentage point spread introduced through the sublease market.
- The third quarter recorded additional negative absorption of -138,744 square feet as a handful of moderately sized firms vacated East Tampa and Mid-Pinellas Submarkets.
- Average asking rent growth, bolstered by the impact of new construction and durable landlord confidence, has surpassed 10% year over year.