Jobs spur activity for Tampa Bay landlords

TAMPA — The improving jobs market is signaling a potential power shift in the commercial real estate office market, from tenants to landlords, according to a new report from CBRE.

Tampa Bay submarkets that may benefit most from the economic upswing include those with a higher volume of job-producing industries, including the central business district, Westshore, downtown St. Petersburg, and the Mid-Pinellas County area, according to CBRE's fourth quarter report.

Another trend spurring office leasing is that many companies are choosing to move their offices back to downtown areas. For landlords with space to fill, the task will be to identify and acquire high-quality tenants in established or growing industries. In Tampa Bay, that means finance, higher education, health care and technologies, CBRE notes.