(Carl Cronan is editor of RealEstateFlorida.)
TAMPA, FL-The local vacancy rate for office space appears to beholding steady at 15.1% midway through this year, though availableinventory has grown by at least 800,000 sf over the past 12 months,according to the latest market review by GVA Advantis. Job losses,particularly in the financial services sector, are bringing abouttepid demand.
"Despite some erosion of Tampa's office fundamentals in thefirst half of 2008, the market seems to be transitioning into amore stabilized mode, which will limit sharp swings in the future,"Randy Smith, local research director for GVA Advantis, stated inthe report. He added that most local market players have come togrips with the reversal of fortune in office demand, which was on afavorable track until the latter half of last year.
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