Tampa Bay office market recovering from the pandemic

Deliveries and new construction continue to push vacancy rate upwards, however, despite positive absorption

  • By Observer Staff
  • | 11:20 a.m. July 26, 2021
  • | 0 Free Articles Remaining!
COURTESY PHOTO -- SkyCenter One at Tampa International Airport became one of three new office buildings delivered in Tampa Bay in the second quarter.
COURTESY PHOTO -- SkyCenter One at Tampa International Airport became one of three new office buildings delivered in Tampa Bay in the second quarter.
  • Commercial Real Estate
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Tampa Bay’s office market showed strong signs of recovery in the second quarter of this year, even deliveries in the Westshore section of Tampa pushed vacancy rates slightly upward, according to a new report.

Positive absorption, or the amount of space removed from the market through leasing activity, grew to above 100,000 square feet in the quarter, commercial real estate brokerage firm CBRE Group notes.

 

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