TAMPA—Tampa office tenants with leases nearing expiration are faced with a two-fold problem: limited options and increased rental rates. What's the answer to the current state of the market? Landlords and tenants alike are exploring options for quality “like new” affordable office space.

So says Clay Witherspoon, a principal and managing director in Avison Young's Tampa office. With no new office buildings on the market and demand for office space causing rental rates to increase, Witherspoon tells us the reason behind this dilemma—business growth in Tampa—looks positive.

However, this is not necessarily welcomed news for class B tenants. That's because companies renting class B office space in Tampa are competing for quality employees and seeking attractive workplace environments help the cause.