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Tampa Bay Q2 2025 Industrial Market Report

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MARKET TRENDS

  • Industrial vacancy in the region continued its upward trend, increasing 170 basis points (bps) over the past year to 8.3%, up from 6.6%, largely due to increased supply and weakening demand.
  • As vacancy rates rise in Tampa Bay, asking rents remain volatile, ending Q2 2025 at $9.02 per square foot (psf).
  • Year to date, net absorption has totaled 2.1 million square feet (msf), up from 1.1 msf the previous year, driven by new construction deliveries in East Tampa and Polk County—two of the region’s most active submarkets.

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