Tampa’s ever-tightening office market is spurring landlords to boost rents, which could cause them to push past an elusive $30 per square foot threshold.
So says Savills Studley Senior Vice President Cheri O’Neil, who contends the Class A office market downtown and in Westshore is poised to crack the figure.
“I think rates will be there before this cycle ends,” O’Neil says. “We’ve hit the mark before, and then we plateau, and then the rate falls back down again. But there’s a different mindset now on the part of owners...”Tampa office rents poised to crack threshold
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National Office Sector Report (Q2 2015)