Delivery of Red Rock’s 510,272 cross dock on County Line Road, as well as a handful of other projects, brought quarterly additions to 865,479 sq. ft.
Over 3.3 million sq. ft. has been absorbed this year, with over 5 million sq. ft. of active requirements also looking for space. This puts pressure on proposed projects to kick off early in 2021.
Average asking rates continue to see upward pressure, with planned construction in Pinellas County and Airport Area submarkets looking to break new highs.