Figure | Future Cities

Tampa Industrial Figures Q1 2022

21 abr. 2022

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  • Total vacancy dropped below 4% as nearly 1 million square feet of absorption was met with limited deliveries this quarter. This follows strong demand trends that have persisted over the past two years.
  • It may be a temporary pause, as 4.5 million square feet are under construction across the market. This includes 2.2 million square feet of speculative product that is on track for Q2 delivery as well as a 1.2 million square foot build-to-suit that recently broke ground at County Line Farms in Plant City.
  • Rental rate growth is untethered, with average rates up almost 18% year-over-year as inflated construction costs and a lack of existing alternatives provide the perfect storm.