Figures

Tampa Office Figures - Q4 2023

January 9, 2024 5 Minute Read

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  • Improvement earned over the course of the year was undermined by outsized move-outs within the Northeast Tampa and Mid-Pinellas/Gateway submarkets, increasing total vacancy by 40 basis points on the quarter.
  • Midtown East remains the only active office project within the market, on-target for a 2025 delivery. Despite murmurs of activity, Gas Worx and The Heights 201 developments are yet to break ground.
  • A lack of new product and dwindling top of market space continue to limit asking rent growth, resulting in a modest 2.0% increase since Q4 2022.