Job dearth: Tampa Bay office vacancies rise in 2009
Cushman & Wakefield put out a fairly complete overview of the Tampa Bay Office market: Download Cushman2009.
The Pinellas County/Hillsborough County office vacancy rate was 20.6 percent at the end of the year. In 2009, a net of 1.4 million square feet of offices fell vacant.
Tampa's Westshore, the region's largest agglomeration of offices, is still hurting. Hundreds of thousands of square feet of offices lost tenants in the second half of 2009.
St. Petersburg's Gateway district, near Interstate 75 and Gandy Boulevard, also under-performed. Of the larger office district, only Interstate 75 seemed to find enough tenants last year to keep its vacancy rate stable.
Can't say I'm surprised considering that 1 of 8 people are out of work in Tampa Bay.
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