By Chris Erickson – Data and Research Editor, Tampa Bay Business Journal
The office market in Tampa Bay posted a strong year in 2025, with solid sales and leasing activity, according to Avison Young.

With 31 transactions worth $464 million, the sales volume was the highest in four years and was up from 19 transactions in 2024.

Total leasing activity was likewise up, nearing 5 million square feet in 2025. Additionally, the average lease size was 6,139 square feet, an increase of 4.5% over 2024 and 15.9% larger than in 2023.

The Westshore business district led the region in leasing activity, followed by the Interstate 75 corridor and downtown Tampa.

Tampa Bay’s office market finished the year with a direct vacancy of 16.3% and a total vacancy of 18.9%, following a total net absorption of 373,151 square feet. Average asking rents ranged from $51.37 for trophy office space, to $34.96 for Class A and $25.98 for Class B.

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Office vacancy rates by submarket

The Tampa Bay office market ended 2025 with a direct and total vacancy of 16.3% and 18.9%, respectively