Record-breaking quarter of leasing activity signals substantial job growth in near future

In the first quarter of 2025, Tampa Bay reported 2.1 million square feet (msf) of leasing activity representing a jaw dropping 79% year-over-year increase. Top transactions in Q1 were largely driven by new activity, with seven of the 10 largest leases representing new locations or relocations. Leasing volume totaled nearly 1.1 million square feet (msf), led primarily by tenants in the financial services and insurance sectors. Notable deals included commitments from global brands such as MetLife, Fisher Investments, JPMorgan Chase, and Geico. After nearly four years of deliberation, Foot Locker has officially committed to relocating its headquarters from New York City to St. Petersburg, securing a 110,998-square-foot (sf) lease. Concurrently, Geico has announced a secured a 190,000-sf lease across a three-building corporate office park in the Westshore district where it plans to create 1,000 jobs.

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