from this morning's GlobeSt (10/23):
Last updated: October 22, 2008 07:45pm
Economy Hammers Bay Area Industrial
By Carl Cronan
"TAMPA, FL-The national economic downturn is battering the Tampa Bay industrial market, pushing vacancy upward by nearly a full percentage point during the third quarter, based on research by local brokerages. At the same time, rents have managed to hold steady despite increased competition between local landlords.
Overall vacancy of industrial and flex buildings measured 7.8% through the last quarter, rising from 6.9% at midyear for Hillsborough, Pinellas and Polk Counties, according to Clearwater-based Colliers Arnold. While that is still below the US industrial vacancy average of 8.5%, it reflects that Tampa Bay is no longer as insulated from national market conditions as it used to be." ...
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