The Tampa Bay Industrial Market marks its eleventh consecutive year of positive absorption.
- Over 10M sq. ft. of industrial space leased this year, an increase of 66.2% over 2019.
- Although total square footage leased is markedly up, the velocity of lease transactions declined more than 34%.
- Occupancy ticks up for large blocks of space, leaving less than 42% of available space over 50K sq. ft.