Land O Lakes Real Estate News - JLS Investment Realty

Tampa, FL Market Trends - Asking Price Index Trends for Commercial Real Estate
August 2nd, 2011 2:48 PM

Tampa, FL Market Trends

Asking Price Index Trends for Commercial Real Estate

Industrial Property Asking Price Index Trends
Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$6.83 +0.1% -3.3%
-
Metro
$6.08 +0.5% -3.5%
-
County
$6.33 +0.7% -2.1%
-
City
$6.31 +1.0% -1.8%

The average asking rental rate per sq ft/year for Industrial properties in Tampa, FL as of Jun 11 was $6.31. This represents an increase of 1.0% compared to the prior 3 months, with a decrease of -1.8% year-over-year. County-wide, average rental rates in Tampa are +0.7% higher at $6.33 per sq ft/year for Industrial properties currently for lease.

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$77 -2.1% -14.5%
-
Metro
$62 -0.9% -12.3%
-
County
$72 -0.1% -6.8%
-
City
$73 +0.1% -8.5%

Current Tampa market trends data indicates an increase of +0.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -8.5% compared to last year's prices. County-wide, asking prices for Industrial properties are -0.1% lower at $72 per sq ft compared to the current median price of $73 per sq ft for Industrial properties in Tampa, FL.

Multifamily Property Asking Price Index Trends

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$61,009 -0.2% -11.5%
-
Metro
$47,008 +0.4% -14.7%
-
County
$43,534 -0.4% -26.2%
-
City
$45,392 -4.1% -29.6%

Current Tampa market trends data indicates a decrease of -4.1% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -29.6% compared to last year's prices. County-wide, asking prices for Multifamily properties are -0.4% lower at $43,534 per unit compared to the current median price of $45,392 per unit for Multifamily properties in Tampa, FL.

Office Property Asking Price Index Trends

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$16.06 -0.5% -4.5%
-
Metro
$16.26 +0.2% -1.5%
-
County
$17.80 +0.4% +0.1%
-
City
$18.55 +0.3% +0.3%

The average asking rental rate per sq ft/year for Office properties in Tampa, FL as of Jun 11 was $18.55. This represents an increase of 0.3% compared to the prior 3 months, with an increase of +0.3% year-over-year. County-wide, average rental rates in Tampa are +0.4% higher at $17.80 per sq ft/year for Office properties currently for lease.

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$144 -2.4% -13.9%
-
Metro
$129 -2.1% -12.3%
-
County
$140 -2.0% -11.6%
-
City
$146 -1.4% -12.6%

Current Tampa market trends data indicates a decrease of -1.4% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -12.6% compared to last year's prices. County-wide, asking prices for Office properties are -2.0% lower at $140 per sq ft compared to the current median price of $146 per sq ft for Office properties in Tampa, FL.

Retail Property Asking Price Index Trends

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$15.21 -0.6% -6.0%
-
Metro
$13.74 -1.3% -10.2%
-
County
$15.21 -1.3% -7.0%
-
City
$15.20 -0.5% -5.9%

The average asking rental rate per sq ft/year for Retail Commercial properties in Tampa, FL as of Jun 11 was $15.20. This represents a decrease of -0.5% compared to the prior 3 months, with a decrease of -5.9% year-over-year. County-wide, average rental rates in Tampa are -1.3% lower at $15.21 per sq ft/year for Retail Commercial properties currently for lease.

Jun 11 vs. 3 mo.
prior
Y-O-Y
-
State
$155 -1.9% -11.5%
-
Metro
$151 -1.9% -11.8%
-
County
$161 -1.8% -11.7%
-
City
$182 +0.2% -3.0%

Current Tampa market trends data indicates an increase of +0.2% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -3.0% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -1.8% lower at $161 per sq ft compared to the current median price of $182 per sq ft for Retail Commercial properties in Tampa, FL.

Asking Price / Asking Rent: “Asking” refers to the dollar amount listed on the LoopNet marketplace. Charts are based on an index of data from the LoopNet marketplace by a given property type in a given geography. Asking Rent Trends are obtained by weighting each rental rate by the space available and dividing it by the sum of the total space available.

County / Metro: County and Metro refer to the parent county and metro of the city. “Metro” is a term LoopNet utilizes and refers to the U.S. Census Bureau definitions of metropolitan and micropolitan statistical areas, collectively referred to as CBSAs (learn more). For example a chart representing the city of Tampa may contain data representing the county of Hillsborough and the metropolitan statistical area.

Y-O-Y: A comparison to the same period in the previous year.

vs. 3 mo prior: A comparison to the average of the 3 months before the current month.

http://www.loopnet.com/Tampa_Florida_Market-Trends


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Posted by Jennifer Stepanek on August 2nd, 2011 2:48 PMPost a Comment

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