(Carl Cronan is editor of RealEstateFlorida.)
TAMPA-Average asking rents in the Tampa-St. Petersburg officemarket reached an all-time high in the first quarter, according toa research report by CB Richard Ellis. The report also notes thatthere is nearly one million sf of vacant sublease space in theoffice market surrounding Tampa Bay.
The current trend of negative absorption and corporatedownsizing, which contributed to an overall vacancy rate of 14.7%through the first three months of 2008, is expected to continue, atleast over the short term. Economic uncertainty is causing sometenants to put expansion or relocation plans on hold, CBREreports.
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