Overall, the Tampa Bay commercial real estate market
continues to show strong growth through Q2 2016 and into Q3. The landlord’s market continued as the Tampa Bay office market
posted steady results through the second quarter of 2016. Florida and Tampa Bay’s economy remains strong with robust employment and steady tenant interest and activity throughout the region. Absorption is expected to improve through 2016. The Tampa Bay industrial market
continued to improve throughout the second quarter of 2016, posting consistently low vacancy rates while logging a record amount of new construction to satisfy lagging supply from previous years. The Tampa Bay retail market
remained active through the second quarter of 2016 as rental rates rose by approximately 50 cents per square foot. The strength of the market is reflected by a drop in total vacancy, the completion of more than 55,000 square feet of retail product and top-of- market asking rates nearing $55.00 PSF.
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Check out our Tampa Bay commercial real estate market infographic for a visual representation of the current market climate: