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...
Tampa Bay’s retail construction pipeline at a decade-low
Mixed-used developments set to break ground could change that in 2025
New retail construction in Tampa Bay has been dwindling over the past several years and now sits at its lowest level since 2012, with just 320,000 square feet. The vast majority of...
Sarasota, Florida’s record-setting multifamily development greatly outpaces renter demand
Vacancy rate hovering around all-time high
Like many markets in Florida, Sarasota has seen a record number of multifamily units come online this year. While demand has improved, especially compared to 2022 and 2023, it has ...
Tampa Bay’s industrial leasing activity well above pre-pandemic norm
Demand drivers have shifted as population growth returns to normal levels
A major theme for the national industrial market over the past year or so has been a steady decline in leasing activity. Industrial assets became the darling of the real estate wor...
Supply and demand gap closing in Tampa Bay’s multifamily market
The third quarter saw highest rate of renter demand in three years
Multifamily renter demand has been steadily increasing in Tampa Bay over the course of this year, narrowing the gap between supply and demand.
Back-to-back hurricanes may have lasting impact on Tampa Bay multifamily market
Storm surge and flooding across the region likely damaged thousands of homes and apartment units
Hurricane Milton made landfall around 9 p.m. on Oct. 9 near Siesta Key, just outside of Sarasota and roughly 70 miles south of Tampa. While the region was mostly unscathed from the...
These areas in Tampa Bay are seeing the largest multifamily vacancy increases
Historic levels of new supply far outpacing renter demand
The Tampa Bay multifamily market is experiencing a historic supply wave, and some areas are being affected more than others. Over 12,500 units will be completed in 2024, shattering...
Tampa Bay’s sublease availability at lowest level in two years
Region still tops the state in available sublease space
The Tampa Bay office market ended the third quarter of 2024 with the least amount of available sublease space in over two years.
Essentially all industrial demand is going to new buildings in Tampa Bay
Weakness in older properties contributes to vacancy rising to the highest level since 2016
Older buildings have been shedding tenants at a brisk pace so far this year. For industrial properties larger than 100,000 square feet, pre-2020 built properties have recorded nega...
Southwest Florida multifamily markets record significant asking rent losses
Supply and demand imbalances pushing vacancy rates higher
The Southwest Florida markets of Fort Myers, Naples and Sarasota have all recorded significant asking rent declines over the past year. In fact, when looking across the US at multi...
Small-bay industrial properties in these Central Florida suburbs have availability rates below 3%
Fast growing suburbs in the Sunshine State Have Very Few Options for Small and Mid-Sized Tenants
According to the most recent Census Bureau data, Florida ranked among the top three states in the U.S. for population growth between mid-2022 and mid-2023 on both an absolute and p...
Tampa Bay leads the Sunshine State in multifamily sales volume over the past year
One of only a handful of Sun Belt markets with over $2 billion
The Tampa Bay multifamily market recorded $2 billion in total sales volume over the trailing 12-month period, leading the state. The next closest market in Florida is Fort Myers, w...
Tampa Bay Leads Sunshine State in Office Leasing Activity in Past Year
Suburban Areas Lead Region in Office Demand
The Tampa Bay office market has recorded 6.7 million square feet of leasing activity over the past year, leading the state. The next closest market was Miami, with 5.3 million squa...
Industrial Sales Fuel Lakeland’s Best Quarter in a Year
Florida Market’s Office, Multifamily Sectors Recorded Minimal Activity
Investment sales volume surpassed $180 million for all major commercial product types in the second quarter of 2024. Nearly 70% of that was in industrial investments.
Lakeland, Florida, Multifamily Vacancy Rate at All-Time High as Supply Outpaces Demand
Region’s Pipeline Drops Below 3,500 Units for First Time in Over Two Years
Like many areas in Florida, Lakeland’s multifamily market has had to contend with a significant supply wave, pushing the region’s vacancy rate to an all-time high.
Tampa Job Growth Slows, but Region Remains a Leader in the Sunshine State for Employment Gains
Unemployment Rate Ticks Above 3.5% for First Time Since Late 2021
Tampa’s employment market continues to stagnate as its annual job growth rate slowed to just 1.5% as of June, according to the Florida Department of Commerce, Bureau of Workforce S...
Florida Markets Among Top Regions in the Country for Five-Year Multifamily Rent Growth
Despite Recent Outperformance, Ongoing Supply Wave Moderating Rents Across the Region
The major multifamily markets in Florida have recorded significant rent growth over the past five years, with Palm Beach and Tampa ranking among the top three in the country after ...
Tampa Sales Volume Rebounds in the Second Quarter of 2024
Strong Performance from Multifamily and Offices Fuels a Doubling in Volume from First Quarter
After three consecutive quarters of declining sales volume, the Tampa market collectively posted $1.5 billion in total sales for all major commercial property types in the second q...
Tampa’s Multifamily Demand Accelerated Over First Half of 2024, Vacancy Still at 25-Year High
2024 on Pace for Record Year for Completions
Tampa’s multifamily vacancy rate surpassed 10% at the beginning of the third quarter of 2024 for the first time since 2001. Supply and demand remain significantly out of balance he...
Southwest Florida Multifamily Markets Hit Decade-High Vacancy Rates
Rebound in Renter Demand Unable To Keep Pace With New Completions
Southwest Florida is in the midst of a significant supply wave, which is impacting multifamily vacancies across the region.