Commercial Real Estate Quarterly Update
Average Vacancy and Rental Rates** in Pinellas County
4TH Quarter 2025 (as of 1/9/2026)
| Office Space | Vacancy Rate | Rental Rate (f/s) |
|---|---|---|
| Class A | 11.7%(-0.5%) | $30.06 psf (+$2.14) |
| Class B | 8.5%(+0.7%) | $24.10 psf (-$1.92) |
| Class C | 2.9%(N/A) | $29.07 psf (-$0.60) |
| Total Office | 7.3%(+0.3%) | $27.65 psf (+$0.33) |
Historical Values- Office (Year in Review)
| Period | Vacancy Rate | Rental Rate (f/s) |
|---|---|---|
| 2025 4Q | 7.3% | $27.65 psf |
| 2025 3Q | 7.0% | $27.32 psf |
| 2025 2Q | 7.0% | $27.18 psf |
| 2025 1Q | 6.9% | $26.93 psf |
| 2024 4Q | 6.7% | $26.78 psf |
| 2024 3Q | 7.0% | $26.17 psf |
Industrial: Warehouse & Flex Space
| Period | Vacancy Rate | Rental Rate (nnn) |
|---|---|---|
| Warehouse Space | 4.5%(-0.6%) | $10.51 psf (+$0.12) |
| Flex Space | 6.3%(+0.6%) | $14.63 psf (-$0.13) |
| Total Industrial | 4.7% (-0.4%) | $11.48 psf (+$0.47) |
Historical Values- Industrial (Year in Review)
| Period | Vacancy Rate | Rental Rate (nnn) |
|---|---|---|
| 2025 4Q | 4.7% | $11.48 psf |
| 2025 3Q | 5.1% | $11.01 psf |
| 2025 2Q | 4.9% | $11.25 psf |
| 2025 1Q | 4.5% | $11.55 psf |
| 2024 4Q | 3.4% | $11.76 psf |
| 2024 3Q | 3.6% | $11.79 psf |
| 2024 2Q | 3.9% | $11.74 psf |
** Source: CoStar Commercial Real Estate Database
Connect with us.
For more detailed Submarket Information, contact:
Daniel Dorian, Business Development Specialist.
