Figures
Tampa Office Figures - Q4 2024
January 10, 2025 5 Minute Read
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- Total vacancy fell for the second straight quarter, down 20 bps to 19.9%. Direct vacancy also improved to 15.5% thanks to additional positive absorption.
- Midtown East remains the only significant office project under construction with just 85,000 square feet available after preleasing efforts have secured nearly 50,000 square feet of commitments.
- Average asking rent growth continues to be driven by class A assets. Overall rates are up a modest 2.2% year over year after increasing 0.5% over the fourth quarter.