Another Robust Beginning For the Central Florida Industrial Market
Date Published: 04/22
Pictured left is the largest speculative industrial building constructed in Tampa since 2007. The grounding breaking is scheduled for mid-May 2016.
The below article is courtesy of the Commercial Real Estate Industry's fastest growing firm, NGKF.
The Central Florida industrial market posted another solid quarter, as another 1.2 million square feet was absorbed at the start of 2016 and vacancy shrank by 80 basis points from one year ago to 6.9%. The recent surge in industrial development, coupled with the strong ties to state distribution, has helped decrease vacancies and attracts interest from national companies looking for distribution hubs in the state. Warehouse/distribution space dominated the market with 944,000 SF of absorption in the first 2016, followed by the general industrial segment with 260,000 square feet. The R&D/flex sector only saw 83,803 square feet absorbed, which, though meager, marked an improvement from one year ago. 1Q16-Central-Florida-Industrial-Market.pdf
10/21 Leased Today-48,000 SF
05/31 45,000 SF Warehouse Sold