The average asking lease rate in Q1 2020 was $23.57 per sq. ft., a 2.0% increase year-over-year.
Total vacancy increased slightly year-over-year closing Q1 2020 out at 11.3%.
Just over one million sq. ft. of construction is currently underway in the Tampa office market.
The Tampa metro area continues to have job and population growth rates exceeding the national average.