East Tampa recorded just shy of 1.0 million sq. ft. of positive absorption in Q2 2020 regardless of recessionary climate.
An e-commerce provider signed another 400,000 sq. ft. lease and purchased an additional site to develop 1.0 million sq. ft. warehouse.
Developers remain bullish on Tampa, as 2.3 million sq. ft. has been delivered this year and another 2.3 million sq. ft. is under construction. These new deliveries helped push vacancy up slightly despite the positive absorption, but space is not expected to linger.