Continued Demand and Supply Imbalance
Key Takeaways
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Over the past ten years, demand for industrial products continued to drive labor in the Tampa metro, which increased the number of industrial-using jobs by 29%, adding over 60,000 positions in trade and transportation during that period. Additionally, the Polk County region added another 33,500 jobs at that same time.
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Sales volume on individual properties fell 70.4% year-over-year throughout both metros combined as investors paused activity due to market uncertainty. Most plan to reassess their space needs in the upcoming year.
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Tenants’ space options dwindled, especially between 20,000 – 30,000 sq. ft., which made up only 390,000 sq. ft. in 15 spaces, or 3% of listed space availabilities.
