ORLANDO—Tampa multifamily vacancy rate will slip 30 basis points in 2015 to 4.9% on the back of net absorption of more than 5,000 units. Tenants also moved into 5,000 rentals last year, slicing the vacancy rate 60 basis points. That's according to Marcus & Millichap.

Projects containing 5,000 apartments will come online in 2015, outpacing last year's production of approximately 4,100 units, M&M reports. And nearly 2,100 multifamily rentals will be placed in service in Pinellas County this year, an increase from 1,900 units during 2014.

But what do Franklin Street multifamily gurus see? GlobeSt.com caught up with Kevin Kelleher, senior director of multifamily investment sales in the firm's Tampa office, to get his thoughts.