loader loader
Nov, 28

Tampa Industrial Real Estate Market Report

industrial real estate market report tampa

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 Real Estate Stats Q3 2022 - Bounat

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:

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.