Tampa Bay, Florida's industrial market is struggling to keep demand up with supply for the second quarter.
Net absorption in three months through June was just 600,000 square feet, down 75 percent year-over-year, a report from Savills Research found.
Vacancies rose by 210 basis points compared with the same period last year to 7.1 percent. Asking rents were down to $10.35 versus $10.55 in the second quarter of 2023.
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