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Tampa Bay Q4 2025 Industrial Market Report

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MARKET TRENDS

  • Tampa Bay’s industrial vacancy rose 150 basis points (bps) over the past year to 8.8%, up from 7.3%, primarily due to sluggish demand in the region as a whole.
  • Asking rates continued to soften, posting a 3.4% year over year decline to $9.12 per square foot, as elevated new supply totaling 7.4 million square feet (msf) delivered in 2025 weighed on pricing.
  • Speculative development activity has moderated over the past year, with 4.7 msf under construction, well below the late 2022 peak of 12.0 msf.

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