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Bay area office vacancies rise with job losses
By James Thorner,
St. Petersburg Times
Published: Jul 15, 2008

The annual loss of 20,000 jobs in the Tampa Bay area is echoing through the office market. Vacancies among the region's 77-million square feet of offices ticked up to 12.2 percent in the quarter that ended June 30, the Colliers Arnold real estate firm reported. Vacancies were 11.8 percent three months earlier and 10 percent a year before. Nine large tenants vamoosed last spring, including Clearwater's MarketStreet Mortgage, leaving empty an extra 265,842 square feet of offices. Downtown St. Petersburg is still hurting with 22 percent vacancy among its top quality "class A" offices. Much of that space opened up with the relocation of Progress Energy into its new headquarters last year.



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