Tampa industrial real estate market reports
Q1 2024
The unemployment rate in Tampa sat at 3.3% in February 2024, up 10 basis points from the start of the fourth quarter, but still outperforming the national average of 3.9%. Manufacturing employment saw a strong 3.2% gain year-over-year, along with construction employment which saw a 2.4% gain over that same time.
Under construction
Hillsborough County currently makes up 77.6% of all projects under construction in Tampa.
Average asking rent
The average asking rent for industrial buildings has increased 28% year-over-year.
Increase in asking rates
Tenant demand remained strong during the first quarter with 598,000 square feet of positive net absorption.
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