Search
 

Economy Hammers Bay Area Industrial

TAMPA, FL-Local vacancy rises a full point during the third quarter as rents hold steady.

By Carl Cronan | Updated on October 22, 2008

(Carl Cronan is editor of Real EstateFlorida.)

TAMPA, FL-The national economic downturn is battering the Tampa Bay industrial market, pushing vacancy upward by nearly a full percentage point during the third quarter, based on research by local brokerages. At the same time, rents have managed to hold steady despite increased competition between local landlords.

Overall vacancy of industrial and flex buildings measured 7.8% through the last quarter, rising from 6.9% at midyear for Hillsborough, Pinellas and Polk Counties, according to Clearwater-based Colliers Arnold. While that is still below the US industrial vacancy average of 8.5%, it reflects that Tampa Bay is no longer as insulated from national market conditions as it used to be.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.