Tampa Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, Savills, Newmark
Quarterly office market indicators for Tampa, aggregated by CREhunt from Cushman & Wakefield, Savills, Newmark. As of Q2 2026, average asking rent was $32.65/SF/yr and vacancy was 18.7%, per Cushman & Wakefield.
Projected current office pricing — Tampa
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Tampa office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~81% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $32.65/SF/yr | 18.7% | -42K SF | — | Cushman & Wakefield |
| Q1 2026 Cushman & Wakefield | $32.21/SF/yr | 18.2% | 115K SF | — | Cushman & Wakefield |
| Q1 2026 Savills | — | — | 951K SF | — | Savills |
| Q4 2025 Newmark | $29.59/SF/yr | 15.5% | 176K SF | — | Newmark |
| Q3 2025 Newmark | $29.29/SF/yr | 15.5% | -23K SF | — | Newmark |
| Q1 2025 Cushman & Wakefield | $31.57/SF/yr | 0.7% | -1K SF | — | Cushman & Wakefield |
| Q4 2024 Newmark | $29.72/SF/yr | 15.0% | 1.1M SF | 519K SF | Newmark |
| Q3 2024 Newmark | $29.47/SF/yr | 15.0% | — | 519K SF | Newmark |
| Q2 2024 Newmark | $28.99/SF/yr | 14.9% | — | 429K SF | Newmark |
| Q1 2024 Newmark | $28.73/SF/yr | 14.6% | — | 429K SF | Newmark |
| Q4 2023 Newmark | $28.53/SF/yr | 14.7% | 308K SF | 449K SF | Newmark |
| Q3 2023 Newmark | $27.83/SF/yr | 14.7% | 182K SF | 509K SF | Newmark |
| Q2 2023 Newmark | $27.60/SF/yr | 14.5% | — | 489K SF | Newmark |
| Q1 2020 Cushman & Wakefield | $26.63/SF/yr | 12.6% | -199K SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Tampa office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Bayside | $26.19/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Clearwater Downtown | $21.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Countryside | $25.03/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Hyde Park | $45.03/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| I-75 Corridor | $26.56/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Mid Pinellas/Gateway | $28.52/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North Pinellas | $24.59/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northwest | $26.49/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South St. Petersburg | $28.34/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southwest | $28.79/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| St. Pete CBD | $43.52/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Tampa CBD | $42.77/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Westshore | $38.55/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Ybor City | $61.41/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
Frequently asked questions
- What is the average asking rent for office space in Tampa?
- As of Q2 2026, the average asking rent for office space in Tampa was $32.65/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Tampa?
- The office vacancy rate in Tampa was 18.7% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Tampa market data come from?
- This report aggregates quarterly office market data for Tampa from Cushman & Wakefield, Savills, Newmark.