Tampa, FL –
2015 Office Transaction Summary
We have analyzed sales of office properties in the Tampa market for 2015 (Tampa Addresses not MSA). 112 sales were reviewed and summarized. These sales were of office properties from less than 1,000 SF in size to several hundred thousand square feet in size. Sales transactions slowly decreased throughout the year with a high of 38 office sales in the 1st quarter 2015. A slight decrease to 35 transactions for Q2 2015, than 26 office sales occurred in Q3 2015 and 13 transactions for the 4th quarter. Total transaction volume for the year totaled over $820 Million and the average price per square foot for all transactions for 2015 was $177.01/SF with an average building size of 41,786 SF. On a quarterly basis the price per square foot analysis is as follows:
·
1st Quarter 2015 – 38 Office Sales:
Average Price per SF = $114.05
·
2nd Quarter 2015 – 35 Office Sales:
Average Price per SF = $137.53· 3rd Quarter 2015 – 26 Office Sales: Average Price per SF = $177.69
· 4th Quarter 2015 – 13 Office Sale: Average Price per SF = $240.37
· Full Year 2015 – 112 Office Sales: Average Price per SF = $177.01
*Data
and charts from Xceligent
Tampa, FL –
2014 Office Transaction Summary
We have analyzed office sales data from the Tampa market for
2014. Just over 150 sales were reviewed and summarized. These sales were of
office properties from less than 1,000 SF in size to several hundred thousand
square feet in size. Office sales transactions by # of sales was strongest in
Quarters 2 through 4 for 2014 with Q1 having the lowest number of transactions.
Q1 had 23 office sales, Q2 had a substantial jump to 43 transactions, Q3 had 42
office sales, and Q4 had 43 transactions. Total transaction volume for the office market
totaled just under $700 Million for 2014 and the average price per square foot
for all transactions for 2014 was $118.93/SF with an average building size of 39,438
SF. On a quarterly basis the price per square foot analysis is as follows:
·
1st Quarter 2014 – 23 Office Sales:
Average Price per SF = $75.75
·
2nd Quarter 2014 – 43 Office Sales:
Average Price per SF = $101.41
·
3rd Quarter 2014 – 42 Office Sales:
Average Price per SF = $111.90
·
4th Quarter 2014 – 43 Office Sales:
Average Price per SF = $140.47
·
Full Year 2014 – 151 Office Sales: Average Price
per SF = $118.93
*Data and charts from
Xceligent
Tampa
Office Market - Year over Year Changes (2014 to 2015)
- Average Size Building Sold – Slight increase in the average building size sold from 39,438 SF to 41,786 SF
- Price per Square Foot – 49% increase in average $/SF from 2014 to 2015
- Number of Transactions – 26% decrease in the # of transactions from 2014 to 2015
- Dollar Volume of Transactions – 18% increase in the total $ volume for transactions from 2014 to 2015
Segmented Office Market Data for Tampa Florida by Building Size
Thank you for your interest. For more information on the Tampa Office
Market or to discuss your property valuation needs feel free to contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
