Figures | Creating Resilience
Tampa Office Figures Q3 2022
October 14, 2022
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- National headwinds have the next round of office construction facing delays, putting the earliest deliveries into late 2024 or 2025 for Tampa. Just 160,000 square feet remain within product delivered to CBD and Westshore submarkets this cycle.
- Significant negative net absorption of 653,652 square feet this quarter was driven by a single, but very active, vertical – the suburban sublease market.
- Strong lease up within new construction is eroding asking rent benchmarks leveraged by existing landlords. Still, average rents are up over 11% from pre-pandemic highs.