In a report published by the Maddux Business Report, absorption for all counties of the Tampa Bay multi-tenant office market were negative with Hillsborough County leading the decline. This report states that for every 1,000 square feet of space lost, Hillsborough was accountable for 810 of those feet. Total negative absorbtion for 4th quarter 2008 - 485,720 square feet of the 57.6 million square feet included in this survey.
Pinellas county had the least negative absorbtion out of all the other Tampa Bay counties and in certain submarkets actually had positive absorbption for the 4th quarter.
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