Engage in Tampa

ENGAGE TAMPA BAY 2021 Q4

PAGE 26

Gateway/Mid-Pinellas

MAJOR USERS Honeywell

INVENTORY (SF)

The Gateway-Mid Pinellas industrial market is the largest in Pinellas County, and is considered it’s primary industrial market for logistics, warehouse/ distribution, andmanufacturing tenants. This is the most active of Pinellas County’s submarkets primar- ily due to it’s accessibility to and fromHillsborough County by the Howard Frankland Bridge (I-275), the Courtney Campbell Causeway (S.R. 60), and the Gandy Bridge. The submarket also has access to several main thoroughfares including Ulmerton Road, US 19, and Belcher.

The Gateway/Mid-Pinellas submarket, has a large diversity of tenants including service firms, smaller warehouse-distribution users, publicly andprivately owned high-tech manufacturing companies, and defense contractors. This submarket is predom- inantly known for its large manufacturing base, office-service center product and multi-use indus- trial parks. Mid-Pinellas/Gateway’s advantageous location continues to produce strong interest from tenants looking to locate their businesses inPinellas County, and the limited availability of vacant land, which has formed a barrier to new development in the submarket, has remained a positive attribute to the existing industrial facilities in this area.

24.9M 10.0M TOTAL 10.1M 4.8M 178k MANUFACTURING OFFICE SERVICES

Amazon

Valpak

WAREHOUSE/DISTRIBUTION

Raytheon

FedEx

Catalent Pharma

Jabil

$9.42 PSF DIRECT RENT

4.5% DIRECT VACANCY

1.8MSF LEASING ACTIVITY

250k SF DIRECT ABSORPTION

UNDER CONSTRUCTION

DIRECT RENTAL AND VACANCY RATES

LEASING ACTIVITY & DIRECT ABSORPTION