3. REAL ESTATE OVERVIEW
// SUBURBAN OFFICE
// HISTORICAL VACANCY
// HISTORICAL RENTAL RATES
// HISTORICAL ABSORPTION
Suburban
space was hit hard
during the recession,
experiencing a rapid
decline in occupancy, but
has rebounded just as quickly.
Class A vacancy has seen a
550 basis point decline in the
past 24 months with the
opportunity to drop
further.
2016 TAMPA PULSE // 25
Class A buildings
in the suburban
submarkets have
collectively posted six
straight years of positive
absorption and recently
experienced the strongest
quarter in the past three
years.
Suburban
asking rates
have been steadily
increasing since
bottoming out in 2012.
Class A rates have
grown 7.6 percent in
the previous 24
months.