October 22, 2019
Tampa is the seventh-fastest-growing flexible office space market in the U.S. on a percentage basis, according to a new report from CBRE. The market’s flexible space inventory grew to 564,000 square feet by the end of Q2 2019, an increase of 205,000 square feet or 57%, from a year earlier.
Since 2010, Tampa’s flexible-space inventory has grown 350%. Tampa now has 19 flexible-space operators across 35 locations, most of which are concentrated in Tampa’s downtown submarket.
“Flexible office space is creating a range of options and benefits for investors, developers and tenants,” said Mike DiBlasi, Managing Director at CBRE. “It has provided a successful path for investors to lease large blocks of vacant space, while also fulfilling the preleasing required to kick-off new development projects. With the shift of employers now chasing the employee and Tampa’s strong job market, we are seeing flexible office space as a way for corporations to set up flagship locations in Tampa.”
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