(1).jpg "Image treatment")
Tenant demand for quality defines Tampa Bay office market
At 984,766 square feet (sf), leasing activity in Tampa Bay fell in line with the five-year average for the fourth consecutive quarter. However, demand has become increasingly concentrated in high-quality Class A buildings. Notable leases during the quarter were dominated by renewals, including Carlton Fields recommitting to its 88,833-sf lease at 4221 West Boy Scout Boulevard and two deals in Northeast Hillsborough from major tenants, including Syniverse and Depository Trust & Clearing Corporation. The retention of these tenants is a positive development for Northeast Hillsborough, which has the highest availability rate in the market at 32.7%.