Overall, the Tampa Bay commercial real estate market continues to show strong growth through the end of the year.
The Tampa Bay office market remained steady through the fourth quarter of 2016. Landlords held firm on rates marketwide. In addition, the region’s employment growth gained momentum with many employers adding jobs throughout the year.
The Tampa Bay industrial market reported steady growth through the close of 2016, ending with the highest absorption in ten years. We attribute this to Tampa Bay’s economy, which has remained strong with positive job growth, a robust construction and building-services industry, expanding companies and new e-commerce firms entering the region.
The Tampa Bay retail market remained steady through the fourth quarter of 2016. Overall confidence in the retail sector continued to drive a landlord’s market throughout the majority of the metro area.
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