Rocky Bottom

The office market from Tampa to Naples seemed poised for a recovery last year.

Indeed, most areas of the Gulf Coast showed positive absorption in 2010. Absorption, an important gauge of the market's health, is the difference in occupied space between two periods of time. In 2010, office-space absorption had turned positive for the first time since 2007, according to data from CoStar group.

But the trend reversed itself in the first half of 2011, as companies hesitated to commit to leasing more space in light of a potential economic softening.