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Q1 2022 | Tampa Bay Office Market Report

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Demand for office space in Tampa Bay remains positive

The Tampa Bay metro area unemployment rate hit 3.2% falling 330 basis points (bps) year-over-year (YOY), on the addition of 75,900 jobs, for an impressive job growth rate of 5.5%. In addition, office landlords benefited from steady employment gains in office-using sectors, which positively impacted demand, especially in professional & business services, financial activities, and information services, which accounted for 28,000 jobs added to the market over the last year. Demand for quality office space remained positive, although absorption trended negative for the seventh consecutive quarter due to occupier continuing to adapt their space needs as a result of the pandemic.


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Q1 2022 | Tampa Bay Office Market Report

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