Leasing activity continues to rise as the region's unemployment rate remains low
The Tampa Bay area recorded 1.2 million square feet (msf) of leasing activity during the first quarter of the year, representing a significant 18.7% increase from the prior quarter. The level of Q1 leasing activity is also above the five-year quarterly average for the third consecutive quarter, an indicator of continued steady demand by occupiers. Tampa-based Masonite Inc., a window and door manufacturer, signed a 128,000-square-foot, long-term lease representing a consolidation of several leased spaces into a single-tenant, Class A building. Fisher Investments, a Texas-based firm, also expanded its presence in Tampa with a renewal and substantial expansion across two buildings, making the firm one of Westshore's largest tenants with over 179,000 square feet (sf) leased.