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Flight to quality a major theme in Tampa Bay, Florida’s industrial market

Tenant move-outs from older buildings push vacancy rate to an eight-year high
An aerial view of 301 Industrial Center, where Cirkul leased 175,500 square feet earlier this year. (CoStar)
An aerial view of 301 Industrial Center, where Cirkul leased 175,500 square feet earlier this year. (CoStar)
CoStar Analytics
August 12, 2025 | 3:03 P.M.

Tampa Bay, Florida's industrial market is facing headwinds in 2025. Tenant departures from older buildings and a slowdown in leasing activity for spaces larger than 100,000 square feet have pushed the region’s vacancy rate to 6.5%, its highest level in eight years.

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