X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TAMPA- Demand for industrial space between 5,000 sf and 50,000 sf is immense in the Tampa area, Edward Miller, broker at Colliers Arnold Commercial Real Estate Services in Tampa, tells Globest.com. He notes that although smaller industrial facilities make up a lesser portion of the overall market share, he suspects they represent a majority of the overall tenant base.

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.”

The Adler Group, a Miami-based commercial real estate firm, is a leading developer of small, sophisticated industrial space, according to Miller. “Adler Group has developed ‘Flexx Space’ industrial and office centers throughout Florida, Georgia and North Carolina including 10 in the Tampa Bay area and serves more than 1,500 tenants,” says Miller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.