Market Pulse

3rd Quarter | 2023

Q3 Average Market Rates



3.3% Down Arrow
Market Rent Growth (YOY)



12.1% Down Arrow
Market Rent Growth (YOY)



8.4% Down Arrow
Market Rent Growth (YOY)

Tampa Bay 3rd Quarter Total Market Statistics

Market Existing Inventory Net Absorption Deliveries Under Construction SF Quoted Rates
Total RBA
(Retail: GLA)
Vacancy %
Office 128,402,475 SF 9.1% 225,273 SF 44,008 SF 1,155,342 SF $28.53
Industrial 12,414,497 SF 4.3% 4,970,194 SF 4,753,775 SF 5,936,081 SF $12.20
Retail 175,331,292 SF 3.1% 985,546 SF 885,060 SF 772,238 SF $25.15

Ciminelli’s New 3rd Quarter Accounts

The Wells Building

104 N Evers Street
Plant City, FL 33563

11,054 SF

View This Listing

Gallery at Market Street

1463 Market Street
Tallahassee, FL 32312

660 SF

View This Listing

Crawfordville Hwy & Ivan Church Rd

2120 Crawfordville Hwy & 49 Ivan Church Rd
Crawfordville, FL 32327

2.84 Acres

View This Listing

1293 S Duncan Drive

1293 S Duncan Drive
Tavares, FL 32778

1.04 Acres

View This Listing
Lease or Sale
News from Buffalo, NY - Ciminelli Real Estate Corporation

Ciminelli's 2023 Corporate Stewardship Report

Ciminelli Real Estate Corporation has employed ambitious strategies and exceptional attention to detail to establish ourselves as leaders in the commercial real estate industry in the northeast region.  As we seek opportunities and work toward success, we must also have a conscious appreciation of the value we can deliver beyond bricks and mortar and the bottom line. Throughout the company’s history, Ciminelli has strived and continues to make contributions to the communities we serve that will sustain us all through the years ahead. Please take a moment to review our 2023 Corporate Stewardship Report which documents Ciminelli’s dedication to the environment, sustainability, and governance in the communities we call home. Visit for more info on the development project.
Ciminelli Florida Spotlight

Ciminelli proudly supports Hillsborough Education Foundation

Ciminelli was honored to be a sponsor of the Hillsborough Education Foundation (HEF) EmpowerEd luncheon. This year's focus was on unlocking new opportunities for both students and teachers. It marked another successful event where funds were raised to further HEF's vital mission. For the past 15 years Ciminelli has supported HEF, and we continue to see their growth and the positive influence they have on the community firsthand, and are proud to be a part of this impactful program.