TAMPA—What does the Greater Tampa Bay industrial look like for tenants? For starters, vacancy has decreased to 7.6% in Tampa and Saint Petersberg, according to CoStar.
The firm reports the vacancy rate was down over the previous quarter, with net absorption totaling positive 1,389,309 square feet in the first quarter. That compares to positive 1.029 million square feet in the fourth quarter 2014. Vacant sublease space increased in the quarter, ending the quarter at 342,407 square feet.
CoStar points to several moving into large blocks of space in 2015 so far. The list includes: Uni-Select moving into 115,147 square feet at Hopewell Industrial Center; Barnett moving into 90,000 square feet at Gateway Commerce Center; and Allside moving into 27,000 square feet at Silo Bend V.
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