Q2 Leasing Jumps in Tampa Industrial Market

TAMPA, FL-Considering that Tampa’s 100-million-sf industrial real estate inventory stood at 15.04% in third quarter 2002, the second quarter performance this year is a remarkable turnaround, Jeremy Kral, a research analyst and GIS specialist in the Clearwater office of Colliers Arnold, tells GlobeSt.com.

Kral’s new analysis shows vacancies–including subleased space–at 8%, unchanged from the first quarter. Not counting subleased space, the vacancy level is at 7.7%, down from 7.6% in the first three months.

However, Kral says the biggest surprise in the market’s second-quarter performance was the net absorption of 923,099 sf versus 101,555 sf in the first quarter. He calls the leasing number “an important indicator” that shows Tampa’s industrial market is “out of the recession and appears to be healthy and active.”