Miller says research has shown that warehouses and distribution centers offer the best development potential in the current economy and tenants needing smaller amounts of space are the most active.

"In regions like Tampa Bay smaller, more flexible industrial facilities are a strong nice market," Miller said in a prepared statement. "Our economy is stronger than most regions of the country and we have a significant number of smaller, often startup companies that need space."

Miller also says that larger companies have tremendous use for these small warehouses, used to augment larger regional warehouses. As large distribution gets larger and larger introducing greater economies of scale, he says the need for smaller industrial space with high throughput has increased. "It's a spoke and hub delivery system."