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Apr, 26

Tampa Industrial Real Estate Market Report

industrial real estate market report tampa

Tampa Florida Industrial Real Estate Activity

Q1 2022

 

At Bounat we work to regularly compile a comprehensive list of the top significant industrial commercial real estate activity that takes 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. 

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 22Q1 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 22Q1 is $9.18/SF, up nearly 15% 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 2.8 million SF in 22Q1 alone.

You can view our commercial properties in Florida to see what real estate assets are available for lease/sale.

Top 10 Industrial Projects Under Construction in Q1 2022

Bldg 200 * 791 County Line Rd

Rating: 3*

Building SF: 1,204, 632

Stories: 1 

Start: January 2022

Complete: March 2023

Developer: –

Owner: Aspyre Properties, LLC

 

City Furniture Mixed-Use * South Frontage Road 

Rating: 4*

Building SF: 1,058, 950

Stories: 2

Start: July 2021

Complete: July 2022

Developer: ARCO/Murray Construction

Owner: City Furniture

 

14640 Softwind Lane 

Rating: 3* 

Building SF: 800,000

Stories: 1

Start: February 2022

Complete: April 2023

Developer: – 

Owner: –

 

Building 1 * Charlie Taylor Rd

Rating: 3*

Building SF: 727,610

Stories: 1

Start: June 2021

Complete: May 2022

Developer: – 

Owner: The Sudler Companies

 

The Motor Enclave * 6499 N Falkenburg Rd

Rating: 4*

Building SF: 450,000

Stories: 1

Start: January 2022

Complete: October 2022

Developer: M1 Concourse

Owner: M1 Concourse

 

I-4 Midway Logistics * 2451 County Line Rd

Rating: 4*

Building SF: 330,460

Stories: 1

Start: December 2021

Complete: September 2022

Developer: Butters Construction & Development

Owner: Butters Construction & Development

 

Building 400 * 400 Tampa Commerce Blvd

Rating: 4*

Building SF: 252,109 

Stories: 1

Start: February 2022

Complete: December 2022

Developer: – 

Owner: Taurus Investment Holdings

 

TIA Logistics Center * Hoover Blvd

Rating: 4*

Building SF: 245, 000

Stories: 1

Start: May 2021

Complete: July 2022

Developer: Scannell Properties

Owner: Scannell Properties

 

Lakeside Logistics * 3010 Coronet Rd

Rating: 4* 225,000

Building SF: 1

Stories: 1

Start: August 2021

Complete: May 2022

Developer: – 

Owner: Foundry Commercial

 

Lakeside Logistics * 3002 Coronet Rd

Rating: 5*

Building SF: 189,000

Stories: 1

Start: August 2021

Complete: May 2022

Developer: – 

Owner: Foundry Commercial

 

Take a look at our featured commercial real estate properties in Central Florida here, or contact the Bounat team to start your own search.