Tampa, FL Office Overview
The Tampa metropolitan area includes Downtown Tampa, Harbour Island, and Hyde Park submarkets. With a metropolitan population of about 2.9 million, Tampa is the second-largest metro area in Florida and the fourth-largest in the Southeastern U.S.
As of mid-2017, the Greater Tampa market encompasses over 38 million square feet of existing office space in properties larger than 50,000 square feet. A diverse and robust blend of finance, healthcare, insurance and tourism businesses maintains demand for Class A office space and commercial real estate in Tampa, FL.
Tampa, FL Office Inventory Description
The city of Tampa is part of the Tampa Bay metro area that also includes St. Petersburg and Clearwater. With a gross metropolitan product of over $115 billion annually, the need for white-collar office space in Tampa continues to increase. Over 57% of the office space inventory in Tampa is Class A or A+, with Class B product bringing another 41% of office inventory to the market.
The Downtown Tampa office market is home to some of the most in-demand Class A properties in the region. Located just north of the Selmon Expressway, this submarket boasts buildings such as the SunTrust Financial Center on Jackson Street, the Tampa City Center, and the Fifth Third Center at 201 East Kennedy Boulevard.
Tampa, FL Commercial Inventory Breakdown
Office Spaces
Total: 32,940,072 SF
By square footage range:
- 50k to 100k SF: 4,458,361 SF / 13.53% of total office
- 100k to 500k SF: 22,772,679 SF / 69.13% of total office
- 500k to 1M SF: 5,709,032 SF / 17.33% of total office
By class:
- Class A+: 1,862,407 SF / 5.65% of total office
- Class A: 17,700,487 SF / 53.74% of total office
- Class B: 8,673,243 SF / 26.33% of total office
- Class C: 292,327 SF / 0.89% of total office
Top 10 Largest Office Buildings
in Tampa
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Lafayette Place | SEC West Kennedy Blvd & Parker Street, 33606 | 700,000 | n/a |
| 7701 East Telecom Pkwy | 7701 East Telecom Pkwy, 33637 | 695,625 | 1986 |
| 400 Channelside | 400 Channelside Drive, 33563 | 610,000 | n/a |
| West View Corporate Center | 402 North Reo Street, 33609 | 576,000 | n/a |
| SunTrust Financial Centre | 401 East Jackson Street, 33602 | 526,268 | 1992 |
| Rivergate Tower | 400 North Ashley Drive, 33602 | 515,965 | 1988 |
| The USAA Southeast Regional Office | 17200 Commerce Park Blvd, 33647 | 499,180 | 1993 |
| Park Tower | 400 North Tampa Street, 33602 | 472,596 | 1973 |
| Wells Fargo Center | 100 South Ashley Drive, 33602 | 387,477 | 1985 |
| 1001 Water Street | 1001 Water Street, 33602 | 385,000 | 2021 |
Most Recently-Built Office Buildings
in Tampa
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| MetWest International - MetWest Three | 4050 West Boy Scout Blvd, 33607 | 249,783 | 2019 |
| Medical Village of Tampa | 2333 West Hillsborough Avenue, 33603 | 54,532 | 2017 |
| Laser Spine Institute | 5332 Avion Park Drive, 33607 | 176,089 | 2016 |
| 3440 West Dr. Martin Luther King Jr. Blvd | 3440 West Dr. Martin Luther King Jr. Blvd, 33607 | 36,312 | 2015 |
| James A. Haley VA Primary Care MOB | 13515 Lake Terrace Lane, 33637 | 117,037 | 2014 |
| 1919 West Swann Avenue | 1919 West Swann Avenue, 33606 | 27,446 | 2014 |
| MetWest International - MetWest Two | 4040 West Boy Scout Blvd, 33607 | 250,000 | 2013 |
| USF Research Park - University Technology Center I | 3702 Spectrum Blvd, 33612 | 52,655 | 2013 |
| USF Research Park - University Technology Center II | 3650 Spectrum Blvd, 33612 | 43,350 | 2013 |
| 3104 North Armenia Avenue | 3104 North Armenia Avenue, 33607 | 60,180 | 2012 |
Tampa, FL Green Office Space
Tampa ranks 20th of the top 30 major markets in the country for green office buildings. With nearly 2% of the buildings in the metro area being LEED-Certified, over 5% have an Energy Star rating from the EPA and nearly 6% of the buildings in Tampa are otherwise rated as green.
The Tampa City Center on 201 North Franklin Street in Downtown is a prime example of an energy-efficient office building. In 2010, Tampa City Center was awarded the prestigious LEED Gold certification for sustainable design and operations, and was the first property in Tampa to earn this award.
The 2017 Nation Green Building Adoption Index has seen the percentage of LEED-certified, Energy Star-rated, and green buildings in the U.S. increase from just under 5% in 2005 to 38% to date.
Tampa, FL's Top Office-Using Sectors
Government, Fortune 1000 companies, national defense and tourism all create a high level of demand for white-collar employment and, in turn, for Tampa commercial real estate.
- Government – Hillsborough County, where Tampa is located, employs over 900,000 people and is a major user of Class A office space in the metro area;
- National Defense – The commercial real estate market in the region is driven by the numerous service businesses and sub-contractors that serve MacDill Air Force Base, the United States Special Operations Command, and the United States Marine Forces Central Command, which are headquartered in Tampa;
- Tourism – The Port of Tampa is the seventh-largest in the nation and provides berthing to cruise ships from Holland America, Royal Caribbean, Carnival Cruise Lines, and numerous other cruise operators;
- Fortune 1000 Headquarters – Demand for white-collar office space in Tampa is also driven by the various corporate headquarters located in the city, including WellCare, TECO Energy, and Raymond James Financial.
FREQUENTLY ASKED QUESTIONS
How much does office space cost in Tampa, FL?
The average office rental rate in Tampa, FL is $30.34 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways.
What is the size of available office spaces in Tampa, FL?
The Tampa, FL office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 249,251 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Tampa, FL is 101 square feet, while the maximum rentable space on the market now is 498,400 square feet.
How do I get office space in Tampa, FL?
Start your search for office space in Tampa, FL by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Tampa, FL?
There are 258 office listings on the Tampa, FL market.
Tampa Demographics
Population
- Total Population376,345
- Male Population(48.4 %) 182,229
- Female Population(51.6 %) 194,116
- Median Age35.40
Income/Financial
- Average Household Income$83,832
- Median Household Income$50,909
- Median Income Under 25$27,462
- Median Income 25-44$58,357
- Median Income 45-64$57,164
- Median Income Over 65$33,701
News
2019 US Office Pipeline – NYC, the Bay Area and San Francisco Set to Deliver 33 MSF of Office Space
April 10, 2019
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2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
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Ever since Gordon Gekko uttered his now infamous credo, “greed is good,” many economists have been concerned with the long-term effects of the growing income inequality in the U.S. While free-market enthusiasts see things differently, inequality has become a recurring topic within our news cyc...