Market Spotlight | Tampa Bay retail

A year ago, Tampa Bay area retail space was riding a wave of positive momentum that was the envy of many major metro markets across the nation.

Thanks to an influx of new residents, solid tourism figures and employment growth in relatively high-paying white-collar and technology-oriented jobs, the sector was experiencing growth in development, leasing and net absorption, and rents were nearing a historic high, according to statistics compiled by commercial real estate research firm CoStar Group.