Tampa office vacancy near 19%

TAMPA BAY — Nearly 6 million square feet of Tampa-area office space is vacant, representing 18.7% of the area's inventory, according to a report published by Cushman & Wakefield. That vacancy rate is below the statewide level of 20.1%.

In Tampa's Westshore district, which Cushman & Wakefield estimates to be the most expensive place to rent, 2.3 million square feet of space is vacant, for an 18.7% rate. Relative occupancy is much higher in Hyde Park; the vacancy rate there is just 10.3%.

In the Pinellas market, 3.3 million square feet of space is vacant, which translates to a 24.6% vacancy rate. The area's Bayside submarket is having the most trouble with office vacancy, with 38.3% of its space unoccupied.