Market Trend: Tampa St Petersburg Office Vacancy Downto 125%
The Tampa/St Petersburg Office market ended the first quarter 2014 with a vacancy rate of 12.5%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 226,407 square feet in the first quarter. That compares to positive 751,327 square feet in the fourth quarter 2013. Vacant sublease space increased in the quarter, ending the quarter at 424,751 square feet. Tenants moving into large blocks of space in 2014...
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