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Tampa, FL - 2015-2016 Office Transaction Summary (2,000 SF - 5,000 SF)

Updated: May 23

Tampa, FL – 2016 Small Office Transaction Summary (2,000 SF to 5,000 SF)

We have analyzed office sales data from the Tampa market for 2016. Over 60 sales were reviewed and summarized. These were smaller office properties in the 2,000 SF to 5,000 SF size range. The transactions in the 1st through 3rd quarter of 2016 had an average of 14 sales a quarter. The year continued with a substantial increase of transactions in the 4th quarter as well as an increased average price per square foot. Average price per square foot had steady growth throughout the year. Total transaction volume for this small office market segment totaled over $29 Million for 2016 and the average price per square foot for all transactions for 2016 was $143.09/SF with an average building size of 3,130 SF. On a quarterly basis the price per square foot analysis is as follows:


· 1st Quarter 2016 – 14 Office Sales: Average Price per SF = $117.58

· 2nd Quarter 2016 – 18 Office Sales: Average Price per SF = $122.38

· 3rd Quarter 2016 – 10 Office Sales: Average Price per SF = $136.19

· 4th Quarter 2016 – 23 Office Sales: Average Price per SF = $173.04

· Full Year 2016 – 65 Office Sales: Average Price per SF = $143.09


*Data and charts from CoStar


Real Estate - Tampa, FL – 2015 Small Office Transaction Summary (2,000 SF to 5,000 SF)

We have analyzed office sales data from the Tampa market for 2015. Over 50 sales were reviewed and summarized. These were smaller office properties in the 2,000 SF to 5,000 SF size range. Well over half of the 50 sales occurred in the first two quarters of the year with a drop to less than 10 transactions per quarter for the 3rd and 4th quarters of 2015. Total transaction volume for this small office market segment totaled over $22 Million for 2015 and the average price per square foot for all transactions for 2015 was $149.39/SF with an average building size of 2,968 SF. On a quarterly basis the price per square foot analysis is as follows:


· 1st Quarter 2015 – 23 Office Sales: Average Price per SF = $137.18

· 2nd Quarter 2015 – 16 Office Sales: Average Price per SF = $193.15

· 3rd Quarter 2015 – 7 Office Sales: Average Price per SF = $118.79

· 4th Quarter 2015 – 6 Office Sales: Average Price per SF = $115.60

· Full Year 2015 – 52 Office Sales: Average Price per SF = $149.39


*Data and charts from Xceligent



Tampa Office Market (2,000 SF to 5,000 SF) - Year over Year Changes (2015 to 2016)

Average Size Building Sold – 5% increase in the average building size sold from 2,968 SF to 3,130 SF

Price per Square Foot – 4% decrease in average $/SF from 2015 to 2016

Number of Transactions – 25% increase in the # of transactions from 2015 to 2016

Dollar Volume of Transactions – 28% increase in the total $ volume for transactions from 2015 to 2016



Valuing to Sell Your Office Property and Commercial Real Estate – Tampa FL


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, CCIM, MAI, MRICS

Commercial Realtor

813.810.1615 Direct Line

mike@cliggitt.com

Tampa Office Real Estate Advisor

www.cliggittrealty.com

www.cliggitt.com








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