Alex Evans, Managing Director, Colliers

July 2026 — Invest: spoke with Alex Evans, managing director of Colliers, about how shifting capital markets, sector-by-sector performance, and talent strategy are shaping Tampa Bay’s commercial real estate landscape. “There are ways to make money in down markets and ways to prevent losing money in down markets, and our job is to help clients do both,” Evans said.

What key changes over the past year have most impacted Colliers in Tampa Bay?

The past 12 months were defined by macroeconomic crosscurrents. Entering 2025, there was a lot of uncertainty around interest rates, pricing, and what the new normal would look like for transactions. Even as rates began to move down slightly, buyers and sellers often stayed on the sidelines. When the market feels uncertain, owners tend to hold their assets longer, and capital tends to sit tight.

For Colliers, that meant capital markets activity was muted compared to what we would like to see. At the same time, leasing held up well, particularly in industrial and retail, and office performed better than many headlines suggest. We have continued to execute for clients across the major asset classes, even as the broader transaction market slowed.

We also believe 2025 was a transition period. As clarity returns and financing conditions become more predictable, we expect activity to gradually improve, and we are approaching the year ahead with cautious optimism.

How have macroeconomic changes influenced the way you work with clients today?

Our job is to advise clients with clear, real-time information, especially when the market is choppy. There are ways to make money in down markets and ways to prevent losing money in down markets, and our job is to help clients do both. That starts with research, data, and being deeply connected to what is happening on the ground. Our brokers are speaking with owners, tenants, lenders, and developers every day, and we make sure those insights flow through the organization so clients can make well-informed decisions.

Last year, we also leaned into thought leadership through Colliers Executive Exchange events. We hosted an Executive Exchange focused on multifamily in Tampa Bay, as well as sessions in Orlando, bringing together owners, investors, operators, and other stakeholders for candid conversation. The intent was to create a comfortable environment where people could ask the questions that are really on their minds, compare perspectives, and leave with a clearer sense of how others are navigating similar challenges. Nobody has a crystal ball, but the right information and the right voices in the room help everyone make smarter moves.

How do you view the role of commercial real estate in Tampa Bay’s economy today?

Commercial real estate is foundational to Tampa Bay’s growth story because it sits at the intersection of infrastructure, business expansion, and talent. The region’s port and airport are major economic engines, and investments that improve capacity, such as work to deepen the port, can strengthen logistics flows, support industrial demand, and reinforce the broader supply chain ecosystem. Those gains then ripple outward into retail, services, and job creation.

From our perspective, the most productive outcomes happen when public and private stakeholders are aligned. As a company, our goal is to deepen our involvement with organizations such as the Tampa Bay EDC and continue engaging with universities and training institutions to support strong talent pipelines.We also see how catalytic projects can reshape submarkets when the right parties come together. Midtown Tampa is one example where coordination among developers, city officials, and anchor tenants helped create a mixed-use destination with a clear placemaking strategy.

Ultimately, commercial real estate helps translate economic momentum into real places where companies can locate, grow, and attract people.

How are you approaching talent attraction and retention?

We are fortunate to operate in a market that continues to attract people. Tampa Bay and Central Florida remain destinations, and that expands the field of talent we can recruit from, alongside strong local universities such as the University of South Florida and the University of Tampa. Quality of life matters, too. Tourism, beaches, and an active business community all contribute to the region’s ability to bring in new professionals.

At the firm level, we are building the team in a way that matches client needs. We want to grow in the asset classes where we need more exposure and more expertise so we can advise clients across the full spectrum of issues they face. While capital markets have been quieter, we are using this period to strengthen our capabilities so that when activity returns, we are prepared and ready to capitalize on it.

Culture is also a differentiator. Brokers can hang their flag anywhere, so we focus on creating an environment where people want to stay because they believe in the platform, the leadership, and the opportunity to grow their careers.

What influential trends are emerging across the market?

The trends vary by asset class, but a few themes are clear. In industrial and logistics, the market is rebalancing after the post-COVID surge. Vacancy has moved into a more normalized range, and construction has tapered, while absorption has been supported by demand in smaller-bay product. We are prioritizing modern infill locations and last-mile nodes where structural demand remains tight, and we continue to see the I-4 corridor as a competitive advantage for the region.

In office, the story is a flight to quality. Tenants are gravitating toward amenity-rich Class A buildings in locations such as Midtown, Water Street, and Westshore, while older assets are under pressure and, in some cases, prompting conversations about adaptive reuse.

Retail has been quietly strong. With limited new development coming out of the ground, vacancy is low, competition for high-quality space is intense, and even well-located B product can benefit from scarcity. Food and beverage, medical, and fitness uses remain active, and landlords and tenants are making longer-range plans around lease expirations because there is not a big pipeline of new supply to solve for demand.

How does Colliers engage with the Tampa Bay community?

Community engagement is essential because real estate is not just a private transaction. It is shaped by infrastructure decisions, regulatory processes, and long-term planning that involve many stakeholders. We stay involved with organizations such as the Tampa Bay EDC, and our brokers participate in civic and industry groups that keep us connected to the public side of the market, including port, airport, and local government leadership.

That involvement is practical. It helps us understand what is coming, what is changing, and where opportunities or constraints may emerge. It also helps us share market insight back to clients so they can plan with fewer surprises.

Tampa Bay is also a place where companies want to be. As new employers and new investment flow into the region, we see the importance of strong public-private coordination to ensure growth is sustainable. Our role is to stay close to those conversations and translate what we are seeing into actionable guidance for clients.

What are your key goals and priorities for the next two to three years?

Our priority is to keep clients well-positioned for whatever the market brings. In the near term, that means continuing to track interest rates, financing conditions, and pricing behavior so clients can make decisions with confidence. Nobody wants to move too soon, and nobody wants to be late to the party, so timing and preparation will matter.

Across sectors, we expect continued change. Industrial should benefit from regional logistics strengths, and vacancy may continue to tighten as supply growth slows and demand remains steady. In office, the flight to quality will continue to shape leasing decisions, and Class A assets should remain the most resilient. Retail, in our view, is positioned to continue its steady performance, supported by population growth and limited new construction.

For Colliers, our goal is to keep growing the platform, expanding expertise where needed, and maintaining our ear to the street so that clients have a partner who can help them navigate both uncertainty and opportunity with clear-eyed advice.