Market Report

Downtown Tampa
About Tampa's Market

Tampa Bay Region Overview

Over the past couple of years, Tampa has welcomed countless new and expanding businesses to our community, offering assistance programs such as financial support, small, women and minority-owned business incentives, and partnerships with economic development organizations to attract a robust group of industries
Jobs by Industry Sector

As of year-to-date 2021, January through August 2021, there are a total of 7,191 rental units in 52 buildings that met the minimum size criteria (market rate and mixed-income properties having at least 10 units) within the combined Tampa sub-districts, accounting for 7.3% of the total rental units in the City using these same parameters. There are 115 properties within these areas containing less than 10 units, accounting for 29% of the total units, which were not included in this analysis to avoid misrepresentation of real rental unit properties. Within the sub-districts, the Urban Core comprises the majority of rental units, closely followed by the University Area. Year-over-year, total inventory of rental units significantly increased in West Tampa with the addition of the Boulevards at West River with 371 units, and in the Urban Core sub-district with the addition of the Heron with 420 units
Multi-Family Characteristics

As of year-to-date 2021, January through August 2021, the East Tampa, Drew Park/Airport, and West Tampa sub-districts had retail occupancy levels which were slightly higher than that of the County and the City. Additionally, the Drew Park/Airport sub-district, with nearly 3.1M square feet, has significantly more retail space than all other sub-districts, closely followed by Urban Core and University Area with 1.8M and 1.7M square feet, respectively. 
Retail Market Characteristics

As of year-to-date 2021, January through August 2021, the East Tampa, West Tampa, Drew Park/Airport, and University Area sub-districts had industrial occupancy levels which were slightly higher than that of the County and the City. The West Tampa sub-district had the greatest occupancy at 100%. Additionally, the Drew Park/Airport sub-district, with nearly 2.7M square feet, has significantly more industrial space than all other sub-districts, closely followed by East Tampa with 2.0M square feet. 

Industrial Market Characteristics

 

As of year-to-date 2021, January through August 2021, the East Tampa and University Area sub-districts had office occupancy levels at 100%, which were slightly higher than that of the County and the City. Additionally, the Urban Core sub-district, with over 10M square feet, has significantly more office space than all other sub-districts, followed by Drew Park/Airport sub-district with 1.8M square feet of office space. 

Office Market Characteristics

The following concentration maps depict the general clusters of specific property uses within each of the City’s five unique sub-districts: 

Concentration Map Key

Urban Core Concentration Map

East Tampa Concentration Map

West Tampa Concentration Map