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Q2 2021 | Tampa Bay Industrial Market Report

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Executive Summary

With over 94% of the U.S. reopened in some capacity, the national GDP began to show positive growth, with a 12.63% change year-over-year. The U.S. 10-Year treasury fell slightly below 1.5%, after strong economic growth during the start of the year. Florida, one of the first states to reopen, continued to see a growth in population, an increase in business activity, and declining unemployment. At the height of the COVID shutdown, Tampa MSA’s unemployment level rose substantially to 13.9%, but has since fallen to 4.6%. In addition, trade, transportation and utilities employment rose during the quarter, adding over 18,100 jobs, which increased demand in the industrial sector. The overall lift in the national economy and solid job growth in construction services continued to positively impact the region’s industrial market during the second quarter.


TBFLIndustrialQ22021

Q2 2021 | Tampa Bay Industrial Market Report

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