East Tampa totaled 468,000 sq. ft. of absorption this quarter alone, with
364,000 sq. ft. being attributed to Refresco’s move into the Southern Wine & Spirits building.
With just around 3.7 million sq. ft. of tenants in the market, we anticipate the vacancy level to continue declining through Q4 2020.
Over 1.2 million sq. ft. of speculative space is planned to break ground in Q4 2020. This includes the 727,000 sq. ft. Southern Oaks development.