Intelligence

Regional Summaries

Select a state to view available market snapshots

Tampa - St. Petersburg

Apartment
At 4.2%, the vacancy rate for the Tampa Bay apartment market in the first quarter of 2017 was up 20 basis points for the period following a gain of just 20 points all told last year. April closed with vacancy at 4.4%. Rent growth is slowing. At $1,028 and $987 per month, first quarter asking and effective averages were up 1.1% and 0.9% for the period following increases of 5.0% each all told last year. April followed with increases of 0.5% asking and 0.3% effective.
Industrial
Tampa Bay’s warehouse/distribution vacancy rate, declining over the past few years, remains low. Reis put the first quarter 2017 rate at 7.9%, unchanged for the period and down 50 basis points since year-end 2016. April followed with net absorption at fully 182,000 square feet and a 20-basis-points reduction in vacancy. An acceleration of rent growth is reported for 2016; similar gains are expected for 2017. At $5.10 psf and $4.65 psf, first quarter average asking and effective rates were up 0.4% each for the period following 2016’s increases of 2.4% and 2.7%. April brought increases of 0.2% to both averages.
Office
Vacancy in the Tampa Bay general purpose, multi-tenant office market ended the first quarter of 2017 at 18.0%, down 30 basis points for the period following a loss of 70 all told last year. Rates of rent growth, increasing in 2014 and 2015, slowed slightly last year. At $22.95 psf and $18.55 psf, first quarter 2017 average asking and effective rates were up 0.7% and 0.8% for the period after increases of 2.2% and 2.4% through 2016. April followed with increases of 0.1% and 0.2%.
Retail
Vacancy in the Tampa Bay community-neighborhood shopping center market ended the first quarter of 2017 at 10.5%, down 30 basis points for the period following a 30-basis-points increase through 2016. April followed with a 10-basis-points rise. At $15.75 psf and $13.87 psf, first quarter asking and effective average rents were up 0.4% each for the period following gains of fully 4.0% and 4.2% all told last year. Losses of 0.1% are reported for both mean rates for April.

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources