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Tampa Bay Q3 2025 Industrial Market Report

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MARKET TRENDS

  • Industrial vacancy ticked up again, increasing 150 basis points (bps) over the past year to 8.5%, up from 7.0%, primarily due to sluggish demand in the region as a whole.
  • Tampa Bay has seen 6.3 million square feet (msf) delivered year to date, however this will continue to drop as speculative construction continues to decline.
  • Net absorption year to date was boosted by a massive 1.2 msf lease signed by PepsiCo at Central Florida Logistics Park in Polk County.

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