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: 33,929,497 SF
By square footage range:
- 50k to 100k SF: 4,617,097 SF / 13.61% of total office
- 100k to 500k SF: 22,907,490 SF / 67.51% of total office
- 500k to 1M SF: 6,404,910 SF / 18.88% of total office
By class:
- Class A+: 1,862,407 SF / 5.49% of total office
- Class A: 17,799,430 SF / 52.46% of total office
- Class B: 9,117,502 SF / 26.87% of total office
- Class C: 292,327 SF / 0.86% of total office
Top 10 Largest Office Buildings
in Tampa
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Bank of America Plaza | 101 E Kennedy Boulevard, 33602 | 809,919 | 1986 |
| Bank of America Plaza | 101 East Kennedy Blvd, 33602 | 784,059 | 1986 |
| Tampa City Center | 201 North Franklin Street, 33602 | 749,035 | 1981 |
| Tampa City Center | 201 N Franklin Street, 33602 | 749,035 | 1981 |
| 7701 East Telecom Pkwy | 7701 East Telecom Pkwy, 33637 | 695,625 | 1986 |
| 100 N Tampa | 100 N Tampa Street, 33602 | 556,786 | 1992 |
| SunTrust Financial Centre | 401 East Jackson Street, 33602 | 526,268 | 1992 |
| Truist Place | 401 E Jackson Street, 33602 | 526,268 | 1992 |
| Rivergate Tower | 400 N Ashley Drive, 33602 | 515,965 | 1988 |
| Rivergate Tower - 14th Floor Sublease | 400 N Ashley Dr, 33602 | 515,965 | 1988 |
Largest Office Properties Recently Completed
in Tampa
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 1001 Water Street | 1001 Water Street, 33602 | 387,000 | 2021 |
| SkyCenter One | 5411 Airport Service Road, 33607 | 270,000 | 2021 |
| Midtown West | 1150 Assembly Drive, 33607 | 152,000 | 2021 |
| USF Research Park - Innovation Building | NEC Spectrum Blvd & Fowler Avenue, 33612 | 120,000 | 2021 |
| Sparkman Wharf | 615 Channelside Drive, 33602 | 245,000 | 2020 |
| Renaissance Ybor - Masonite Headquarters | 1309 East 6th Avenue, 33605 | 59,940 | 2020 |
| 802 East Whiting Street | 802 East Whiting Street, 33602 | 32,000 | 2020 |
| 4602 North Armenia Avenue | 4602 North Armenia Avenue, 33603 | 28,500 | 2020 |
| MetWest International - MetWest Three | 4050 West Boy Scout Blvd, 33607 | 249,783 | 2019 |
| 5016 West Cypress Street | 5016 West Cypress Street, 33607 | 63,289 | 2017 |
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 $29.1 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. Check Tampa Office Market Trends for more stats.
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 249,250 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Tampa, FL is 100 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 346 office listings on the Tampa, FL market. See all available office spaces for rent.
Where to rent an office space in Tampa, FL?
Popular Tampa neighbourhoods with available office spaces include Westshore Palms, Tampa International Airport and Ybor.
What other property types are available for lease in Tampa, FL?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Tampa Demographics
Population
- Total Population387,916
- Male Population(48.5 %) 188,134
- Female Population(51.5 %) 199,782
- Median Age35.70
Income/Financial
- Average Household Income$87,816
- Median Household Income$53,833
- Median Income Under 25$30,188
- Median Income 25-44$61,579
- Median Income 45-64$61,546
- Median Income Over 65$34,111
News
2019 US Office Pipeline – NYC, the Bay Area and San Francisco Set to Deliver 33 MSF of Office Space
April 10, 2019
Since 2009, the U.S. economy has had more than 110 consecutive months of growth, making this the second longest economic expansion since the Great Depression. After a rather tepid 2017 performance, the U.S. office market gathered some steam in 2018, adding 76 million square feet of new office sp...
2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
September 20, 2018
We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...
Winners and Losers in the Labor Market – US States and Metros with the Highest Income Inequality
August 21, 2018
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...