// RETAIL MARKET OVERVIEW
// RETAIL MARKET OVERVIEW
// TAMPA RETAIL CLOCK
Peaking
market
TAMPA
Rising
market
Falling
market
Bottoming
market
// HISTORICAL RENTS & OCCUPANCY
Historic Power and Shopping Center Data From CoStar Property and JLL Research
2016 TAMPA PULSE // 28
Unemployment dropped 90 basis points
during 2015 to 4.4 percent, out-pacing the
state average of 5.0 percent. The local
population is expected to continue to grow
quickly, and as a result developers have
multiple new multi-family projects underway
across Tampa Bay with others in the pipeline.
The new developments and resurgence of
the single family housing market explains
the 8.6 percent increase in construction
jobs during the last 12 months. The Leisure
and Hospitality industry also experienced
significant growth in 2015, seeing a 7.8
percent growth in jobs. Market leverage in
retail remains with landlords, as Class A
properties are receiving multiple offers to
lease their space. Population and tourism
numbers have increased every year since
2010, providing continued demand and a
positive outlook for the retail sector.