Sublease vacancies in region hit all-time high

The pandemic has added significant inventory to what had been a landlord’s market.

  • By Kevin McQuaid
  • | 6:00 a.m. March 25, 2021
  • | 0 Free Articles Remaining!
COURTESY RENDERING — Centene Corp. has purportedly decided to hold off on occupying the four-story Renaissance Center VII building because of the pandemic and may try to find tenants to sublease it.
COURTESY RENDERING — Centene Corp. has purportedly decided to hold off on occupying the four-story Renaissance Center VII building because of the pandemic and may try to find tenants to sublease it.
  • Commercial Real Estate
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The hospitality and retail sectors have grabbed considerable attention for the dents they’ve incurred during the COVID-19 pandemic, but the Tampa Bay area’s office market has endured its share of pain in the past year, as well.

One striking statistic: The amount of space companies made available for sublease in Hillsborough and Pinellas counties sat at an all-time high at the close of 2020.

 

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