The Tampa Bay office market may be beginning to turn a corner, with the amount of negative absorption in the first quarter of 2010 significantly smaller than in first quarter 2009, according to brokers at Grubb & Ellis and CB Richard Ellis. Plus, activity in the market is up from late 2009, they report.
“In 2009, people were uncertain about the economy,” but now company executives are interested in making decisions about renting space, says Paula Buffa, senior vice president, Grubb & Ellis Commercial Florida at the Tampa office. Buffa and colleagues Jim Moler, senior vice president, and associate Maria Camarinos Hall, of the new “office agency team,” at Grubb and Ellis in Tampa, recently added the Turtle Creek property, a 120,000-square-foot First Industrial Realty Trust office/flex project in Clearwater, to their portfolio of properties for which they are in charge of leasing.
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