Greetings!

While a lot has changed over the last few months, one thing hasn't--and that's Tampa's continuing growth, national visibility, and strategic importance.

One of the many companies that have taken notice is Amazon.

The retail giant is coming to town in a big way. The company seems to have found it's place in Florida and it's in Tampa. Their footprint will be a whopping...

6,774,291 Total SF
of Amazon's warehouse presence in the Tampa Bay region.

That's equal to 5.7 International Plaza Malls, 38 Walmart Supercenters, and 151 Publix Supermarket stores.

What does this mean for office property investors?

It means that new ecosystems will pop up to support Amazon's micro-economy in our area.

Office properties in the e-tailer's vicinity could be poised to benefit from their growth and now is a great time to consider if changes to your office holdings could better position you for emerging opportunities.

If you're considering making a move, contact me. I can help with a Broker Opinion of Value for your property and by working with you to execute a 1031 Exchange.

You can read more about Amazon's big investment in our area in our Market Trends section below.

In this month's issue, you will also gain access to:

  • A downloadable version of our monthly sales comps data sheet--the Tampa Office Sales Comps & Report
  • Relevant market news & trends that could potentially impact property prices.
  • Information on two excellent land development opportunities I have for sale.
  • A downloadable PDF with the latest Tampa MSA employment rate, an important metric for the office market

Please let me know what other information would be of value to you.

In the meantime, if you know anyone who is considering selling or leasing office space, please tell them about me. I specialize in selling Tampa professional and medical office properties.

Most importantly, please do not hesitate to reach out with questions. I'm here to help.

Thanks!
Amazon's Growing Presence in the Tampa Bay Region.

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John Milsaps John.Milsaps@SVN.com
Cell: 813.597.6600 www.TampaCRE.com
TAMPA OFFICE SALES | MAY - JUNE 2020
In June of this year, the office transaction volume was $17,739,000. The highest sales price for the month was $10,350,000 which was achieved by a professional office property located at:

📌 3350 BUSCHWOOD PARK DR, TAMPA 33614. Property specs:

  • Built in 1989
  • 78,446 SF
  • 7.6 Acres
  • $131.94 Price/SF

For more market insights and details, download the Tampa Office Sales Comps & Report.

For a custom market and property report, click the button below or contact me directly.
Tampa Office Sales Comps & Report
Land Development Opportunity Across the Street From Walmart Neighborhood Market in New Port Richey
A great development opportunity, this land is well-located in New Port Richey, Florida and is being offered at $299,999 for a 30,000 SF retail pad on 0.69 acres.

The property offers open opportunity in a location close to other major retailers and next to Advance Auto Parts.
Across the street from Walmart Neighborhood Market
Excellent Land Development Opportunity Across the Street from Publix in Land O'Lakes, Florida
An amazing development opportunity, this property is located in Land O' Lakes, FL, and is being offered at $750,000 for 1.85 acres.

The corner property has excellent exposure in an growing retail corridor.
Across the street from Publix
Large Employers Are Halting Return-To-Work Planning

The Pacific Business Group on Health surveyed 41 member organizations and found that 57% are waiting until circumstances change before they plan for employees returning to the workplace


(via GlobeSt.) Large employers are holding off on making plans to bring their staff back to the workplace, according to a recent member survey from the Pacific Business Group on Health.

Consequently, it will morph from a single location to an “ecosystem of different locations and experiences.”
Office Concessions Are Here... But Maybe Not For Long?

This tenant-friendly environment will likely only last for the next 12 to 18 months

(via GlobeSt.) As pandemic-led pressures mount for office landlords, they are ramping up offers of free rent and larger tenant-improvement allowances to keep their space filled...Continue Reading to find out until when concessions are expected to continue (Paywall)
A PACKAGE DEAL
Amazon’s real estate spree has major implications for the Tampa Bay region
(via Tampa Bay Business Journal) Amazon.com’s real estate spree in the Tampa Bay region has bagged the e-commerce giant more than 6 million square feet of warehouse space — and a lot of big money is betting it isn’t done yet. 

The Seattle-based behemoth’s warehouse space in this region — including facilities that are under construction — is equivalent to over five of Tampa’s International Plaza, 38 Walmart Supercenters and 151 medium-sized Publix Super Markets Inc. stores.
Nearly the entire region, save for parts of southern Polk County, lives within 25 miles of an Amazon facility, whether it’s a hulking, million-square-foot fulfillment center or one of its more petite last-mile delivery stations, which...Continue Reading about Amazon's moves in our area here.
UNEMPLOYMENT IN THE TAMPA MSA
An important factor affecting the office market is employment and unemployment. Growing employment numbers indicate more people needing offices while higher unemployment numbers indicate the potential for a decreased need. Here are the latest unemployment numbers for your consideration.
The Tampa-St. Petersburg-Clearwater area rate increased month-over-month to 10.1% in July, from 9.2% in June.

In the Tampa area, there was :
  • YOY growth in Construction & Government industries
  • YOY decreases in Leisure & Hospitality, and Professional & Business Services sectors

Florida wide:
  • Statewide unemployment rate was 11.3% in July 2020
I can help by providing a Broker Opinion of Value on your property.

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