Tampa Florida Industrial Real Estate Activity
At Bounat we work to regularly compile a comprehensive list of the top significant industrial commercial real estate activity, focusing heavily on construction projects taking place each quarter in Tampa, Florida.
Tampa’s industrial market has experienced a vigorous pace of growth over the past few years, marked by brisk leasing activity, historic rates of net absorption, and strong rent growth. Its geographic advantages are apparent, as well. It’s in a very central part of Florida, and it sits on the waters of the Gulf of Mexico.
Below we go over several statistics of industrial real estate in Tampa, FL.
Tampa Industrial Real Estate Stats and Updates Q3 2022
Industrial construction starts have been climbing in Tampa on the heels of strong demand and record low vacancies. More than 9 million SF of new starts have been recorded since the start of 2021, including roughly 2.8 million SF in 22Q3 alone.
Industrial rents in Tampa remain on an upward trajectory, rising by 10.8% over the trailing 12-month period alone, as unwavering demand for distribution space fuels rent growth. The average industrial rent as of 22Q3 is $10.45/SF (from $9.18/SF in 22Q1), up nearly 20% since the beginning of the pandemic and up roughly 30% over the past five years.
Finally, industrial construction starts have been climbing in Tampa on the heels of strong demand and record low vacancies. More than 9 million SF of new starts have been recorded since the start of 2021, including roughly 5.4 million SF in 22Q3 alone.
You can view our commercial properties in Florida to see what real estate assets are available for lease/sale.
Tampa Industrial Projects Under Construction Stats in Q3 2022
Currently there are 40 industrial projects under construction in Tampa with a total of 5.4 million square feet being added to the market. These projects represent 2.3% of the total inventory, and 39.7% of the space being constructed is already leased.
Total Properties Under Construction: 40
Total Square Feet Under Construction: 5.4M
Percent of Inventory Represented: 2.9%
Preleased Property Space: 39.7%
Top 10 Tampa Industrial Projects Under Construction in Q3 2022
1) Bldg 200 * 791 County Line Rd
Rating: 3*
Building SF: 1,204,632
Stories: 1
Start: January 2022
Complete: December 2022
Developer: –
Owner: Aspyre Properties, LLC
2) 14640 Softwind Lane
Rating: 3*
Building SF: 800,000
Stories: 1
Start: February 2022
Complete: April 2023
Developer: –
Owner: –
3) I-4 Midway Logistics – 2451 County Line Rd
Rating: 4*
Building SF: 330,460
Stories: 1
Start: December 2021
Complete: November 2022
Developer: Butters Construction & Development
Owner: Butters Realty & Management
4) Central 75 Building 1 – 585 33rd St NE
Rating: 4*
Building SF: 278,130
Stories: 1
Start: January 2022
Complete: November 2022
Developer: –
Owner: –
5) Building 400 * 400 Tampa Commerce Blvd
Rating: 4*
Building SF: 252,109
Stories: 1
Start: February 2022
Complete: November 2022
Developer: –
Owner: Hines
6) TIA Logistics Center * Hoover Blvd
Rating: 4*
Building SF: 245, 000
Stories: 1
Start: February 2022
Complete: November 2022
Developer: Scannell Properties
Owner: Scannell Properties
7) Building 5 – 1500 County Line
Rating: 3*
Building SF: 214,743
Stories: 1
Start: May 2022
Complete: December 2023
Developer: Central Florida Development
Owner: –
8) Sunlake Blvd & State Road
Rating: 3*
Building SF: 190,000
Stories: 1
Start: June 2022
Complete: April 2023
Developer: –
Owner: Stonemont Financial Group
9) Building #4 – 6435 S Flakenburg Rd
Rating: 4*
Building SF: 184,512
Stories: 1
Start: January 2022
Complete: March 2023
Developer: TPA Group LLC
Owner: TPA Group LLC
10) 0 Industrial Drive
Rating: 4*
Building SF: 175,500
Stories: 1
Start: August 2022
Complete: January 2023
Developer: –
Owner: –
Take a look at our featured commercial real estate properties in Central Florida here, or contact the Bounat team to start your own search.