Property to Watch: Tampa Bay's office market
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Dec 4, 2020

Before the novel coronavirus pandemic, 2021 was shaping up to be a banner year for Tampa Bay's office market. After a dearth of new development in the downtown core — a drought that has lasted a quarter century — nearly a million square feet is set to be delivered this year. Prior to the pandemic, office leasing brokers frequently lamented the lack of large contiguous blocks of office space.

Enter the pandemic, which transitioned the vast majority of office-based workers into remote positions for the duration of 2020. With cases surging, the national work-from-home experiment looks likely to continue well into 2021, and it's left decision makers unsure of their office space needs.

Office space available for sublease in Tampa Bay has hit a historic high since the onset of the pandemic, and now, with a glut of new space coming online, we will be watching closely to see which landlords are the winners and losers of 2021.