Middle Market Digest: Early This Week in Florida

Early this week in Florida saw another condo development top off. Grandbridge Capital Real Estate just made a key personnel move and the deals are still flowing across the state.

BY THE NUMBERS

Office development lagging in Tampa, FL. Although net absorption has outpaced new inventory over the last four years and rents are climbing, construction is slow. The lack of large blocks of contiguous space in the region instigated the first speculative office building in the metro in years. The 150,000-square-foot Renaissance VI building in Tampa’s Westshore District recently announced that Auto Club Group AAA will lease the entire space upon completion in 2018. A further tightening of vacancy may prompt more projects in the planning pipeline to begin.