Market Spotlight: Tampa Bay Office/Industrial

Region set records in both sectors in 2020 despite significant office headwinds generated by COVID-19.


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  • | 6:00 a.m. January 22, 2021
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COURTESY PHOTO — Tampa Bay's office market largely held its own in 2020, despite headwinds from the COVID-19 pandemic.
COURTESY PHOTO — Tampa Bay's office market largely held its own in 2020, despite headwinds from the COVID-19 pandemic.
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The significant momentum that the Tampa Bay commercial real estate market began 2020 with carried through much of the year in the office and industrial sectors, despite the havoc brought about by the COVID-19 pandemic.

Perhaps not surprisingly, the office sector suffered from increased sublease availability and vacancy rates last year, even as rental rates inched upward to hit new plateaus, especially in Hillsborough County.

 

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