- VACANCY FELL AGAIN
Tampa was one of six markets in the country to report an overall vacancy decrease for the second consecutive quarter, ending Q2 at 20.3%.
- DIRECT RENTS HELD
Direct rents held steady YOY (+.04%), even as new construction with premium rents became 94% leased.
- SUBLEASE SPACE DIMINISHED
The amount of vacant sublease space decreased 5.0% from the previous quarter, driven by a few large spaces becoming occupied by Elite Insurance Partners and Mad Mobile.
- COMPANIES EXPANDED
Though leasing activity slowed, multiple large expansions occurred during Q2 including Skybridge Resources tripling its space and Dynasty Financial Partners and Draper Laps both doubling office footprints.
- OVERALL ABSORPTION POSITIVE
Thanks to large move-ins by Simply Healthcare, OPSWAT, and Mad Mobile, overall absorption was positive for the first time since Q1 2021. Tampa was one of six markets in the country to record over 100,000 SF of positive absorption, ending Q2 at 160,000 SF.