Tampa Bay’s growing population fueled job gains in 2024
Several sectors led Sunshine State in nominal job growth
Tampa Bay is one of the leaders in Florida in terms of job creation, in large part due to its increasing population.
Office tenants have limited options in Southwest Florida
Region has one of the lowest vacancy rates in the Sunshine State
The Southwest Florida markets of Fort Myers and Naples collectively have 33 million square feet of office inventory. Of that, only 1.6 million square feet are vacant, resulting in ...
Lakeland, Florida’s stabilized multifamily vacancy barely above pre-pandemic norms
New construction completions have pushed overall vacancy to near-historic highs
Markets across the Sun Belt have contended with a historic number of completions over the past 18 months, and Lakeland, Florida, is no different. As a result, overall vacancy rates...
Southwest Florida multifamily markets continue to face supply obstacles
Vacancy rates across the region hover around all-time highs
Southwest Florida’s two largest multifamily markets, Sarasota and Fort Myers, are in the midst of a historic supply wave, causing vacancies to rise to new heights. While renter dem...
Supply and demand gap narrowing in Fort Myers, Florida's industrial market
Annual leasing activity well above pre-pandemic norms
Like many industrial markets across the country, that of Fort Myers, Florida, has contended with historic amounts of new supply becoming available. The millions of square feet comp...
What to watch in Tampa Bay’s office market in 2025
Historic perspective and emerging trends that could impact the market in the year to come
The Tampa Bay office market led the state of Florida in leasing activity in 2024 with roughly 6.6 million square feet leased. That strong level of leasing activity fueled over 100,...
What to watch in Tampa Bay’s retail market in 2025
Macro-level obstacles could provide opportunity for a highly in-demand retail market
Tampa Bay was the top destination for retailers in Florida in 2024, with the region recording 2.9 million square feet of leasing activity last year.
What to watch in Tampa Bay’s industrial market in 2025
New development, rent growth and strength of the sub-50,000-square-foot market poised to impact fundamentals
The Tampa Bay industrial market enters 2025 in a much better position than most other major industrial markets nationwide. The region is maintaining a leasing volume of roughly 15%...
2024 a record year for Tampa Bay's multifamily market
What soaring renter demand and once-more positive rent growth means for the area in 2025
Multifamily fundamentals improved over the course of 2024 in the Tampa Bay market. Renter demand hit a new all-time high with just over 9,300 units absorbed, beating the previous r...
Lakeland, Florida’s industrial market ending 2024 with momentum
Vacancy rate likely to start improving in 2025
The Lakeland industrial market has steadily improved over the course of 2024.
Naples, Florida, commercial real estate sectors ending 2024 with mixed results
Fundamentals waning across all sectors as population growth stalls
Naples is the southernmost market in the southwest Florida region. The market is one of the most affluent in Florida and is widely known as a retirement destination.
Retail leasing activity rebounds in Lakeland, Florida
Year-to-date leasing volume has already surpassed 2023 figures
Retail leasing activity in Lakeland, Florida, has improved considerably in 2024, following one of the worst years for the metric over the past decade. Less than 400,000 square feet...
Fort Myers, Florida, industrial pipeline accelerates, contrary to national trends
Prospective tenants must look to new construction for space in the market
While other industrial markets across Florida are seeing their industrial pipelines slow, the pipeline in Fort Myers is starting to reaccelerate. Roughly 1.9 million square feet ar...
Southwest Florida retail vacancy hovers near all-time low
The construction pipeline will provide little relief for expanding tenants
Retail vacancy in the Southwest Florida markets of Sarasota and Fort Myers is at an all-time low. Retailers have flocked to the region over the past few years, looking to tap into ...
Fort Myers, Florida, multifamily vacancy rate reaches all-time high
The latest supply wave greatly outpaces renter demand
Fort Myers is the second-largest multifamily market in Southwest Florida, with just over 35,000 units, second only to Sarasota with its 45,000 units. Over the past several years, t...
Tampa Bay leads Florida in retail sales volume over the past year
Sales volume fueled by hundreds of sub-$10 million transactions
The Tampa Bay retail market has recorded roughly $1.1 billion in sales volume over the trailing 12-month period, making it the top market in Florida for retail investment. The next...
Record-setting construction completions ballooning Lakeland, Florida's multifamily vacancy rate
Vacancy rate at 25-year high despite significant improvements in renter demand
The Lakeland, Florida, multifamily market is in the midst of a historic supply wave as thousands of units have been completed in 2024, pushing vacancy to a 25-year high.
Back-to-back Hurricanes hurt Tampa Bay’s annual job growth
Retail and hospitality employment sectors collectively lost over 10,000 jobs year over year
Annual job growth dropped to just 0.3% for the Tampa Bay region, according to the most recent release from the Florida Department of Commerce, Bureau of Workforce Statistics and Ec...
Fort Myers industrial market maintains historic leasing activity pace
Year-to-date leasing volume is 40% above pre-pandemic norms
While other industrial markets across Florida and the country have seen their industrial leasing volume fall, Fort Myers has maintained its impressive and historic pace set back in...
Tampa Bay is the hottest office leasing market in Florida
Leasing volume on pace to surpass pre-pandemic norms
Tampa Bay is one of the few office markets in Florida, with leasing activity at or slightly above pre-pandemic norms. Through the end of the third quarter, Tampa Bay has recorded j...