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Professional services job gains lead to lowest Class A office vacancy rates in over a decade

    A booming business and professional services sector is driving historically low vacancy rates in Tampa Bay, according to Cushman & Wakefield’s 2017 fourth quarter office market report. The sector grew 2.5 percent year over year, adding 5,900 of the MSA’s 30,600 total new jobs.  All office-using employment sectors saw job gains in 2017, leading to the overall vacancy rate in Tampa falling to 10.6 percent. This is the first time the vacancy rate has fallen below 11 percent in six quarters. Class … Continued

Q4 2017 commercial real estate snapshot shows new construction driving industrial market

    The Tampa MSA’s industrial real estate market is experiencing low vacancy rates and increased construction activity, thanks to thriving manufacturing and distribution & logistics sectors. In Cushman & Wakefield’s latest industrial market report, the global commercial real estate firm noted that the overall industrial vacancy rate fell to 5.3 percent from 5.5 percent in Q4 of 2016. The overall absorption of 1.6 million square feet of space in 2017 marked a post-recession high, doubling the 2016 rate. And while … Continued

New talent attraction campaign showcases Tampa Bay area’s entrepreneurial bona fides

    Tampa Bay’s top tourism and economic development agencies joined forces last October to launch a new campaign designed to showcase the region as a land of opportunity for millennial entrepreneurs and highly skilled talent. The Make it Tampa Bay campaign is filled with testimonials and inside scoop from locals about why they’ve chosen to build their companies and careers in the Tampa market. The campaign is currently targeting millennials in the New York, Philadelphia, Chicago and Dallas urban … Continued

Blog

Professional services job gains lead to lowest Class A office vacancy rates in over a decade

    A booming business and professional services sector is driving historically low vacancy rates in Tampa Bay, according to Cushman & Wakefield’s 2017 fourth quarter office market report. The sector grew 2.5 percent year over year, adding 5,900 of the MSA’s 30,600 total new jobs.  All office-using employment sectors saw job gains in 2017, leading to the overall vacancy rate in Tampa falling to 10.6 percent. This is the first time the vacancy rate has fallen below 11 percent in six quarters. Class … Continued

Q4 2017 commercial real estate snapshot shows new construction driving industrial market

    The Tampa MSA’s industrial real estate market is experiencing low vacancy rates and increased construction activity, thanks to thriving manufacturing and distribution & logistics sectors. In Cushman & Wakefield’s latest industrial market report, the global commercial real estate firm noted that the overall industrial vacancy rate fell to 5.3 percent from 5.5 percent in Q4 of 2016. The overall absorption of 1.6 million square feet of space in 2017 marked a post-recession high, doubling the 2016 rate. And while … Continued

New talent attraction campaign showcases Tampa Bay area’s entrepreneurial bona fides

    Tampa Bay’s top tourism and economic development agencies joined forces last October to launch a new campaign designed to showcase the region as a land of opportunity for millennial entrepreneurs and highly skilled talent. The Make it Tampa Bay campaign is filled with testimonials and inside scoop from locals about why they’ve chosen to build their companies and careers in the Tampa market. The campaign is currently targeting millennials in the New York, Philadelphia, Chicago and Dallas urban … Continued