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  • Mike Cliggitt, CCIM, MAI

Brandon & East Tampa, FL -2015-2016 Large Office Transaction Summary (15,000 SF+)

Brandon / East Tampa, FL – 2016 Large Office Transaction Summary (15,000 SF +)

We have analyzed office sales data from the Brandon / East Tampa market for 2016. Precisely 10 sales were reviewed and summarized. These sales were of large office properties over 15,000 SF in size. Transactions of offices in this size segment started out with no sales in the first quarter of the year followed by 5 transactions in the second quarter of the year. We observe a linear relationship between the number of transactions and average price per square foot for the year. Total transaction volume for this office market segment totaled nearly $170 Million for 2016 and the average price per square foot for all transactions for 2016 was $164.81/SF with an average building size 114,043 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2016 – 0 Office Sales

· 2nd Quarter 2016 – 5 Office Sales: Average Price per SF = $186.33

· 3rd Quarter 2016 – 2 Office Sales: Average Price per SF = $141.36

· 4th Quarter 2016 – 3 Office Sales: Average Price per SF = $161.86

· Full Year 2016 – 10 Office Sales: Average Price per SF = $164.81


Brandon / East Tampa, FL – 2015 Large Office Transaction Summary (15,000 SF +)

We have analyzed sales office properties 15,000 SF and up from the Brandon / East Tampa market for 2015. Over 10 sales were reviewed and summarized. These sales were of office properties over 15,000 SF in size. Sales transactions were down in the first two quarters of the year, then we observe a peak in the 3rd quarter with 7 transactions. Average price per square foot topped in the 4th quarter at approximately $210 per square foot. Total transaction volume for the year for this size segment of the office market totaled over $162 Million and the average price per square foot for office transactions for 2015 was $160.68/SF with an average building size of 95,251 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2015 – 2 Office Sales: Average Price per SF = $130.20

· 2nd Quarter 2015 – 1 Office Sale: Average Price per SF = $36.11

· 3rd Quarter 2015 – 7 Office Sales: Average Price per SF = $162.71

· 4th Quarter 2015 – 1 Office Sale: Average Price per SF = $211.00

· Full Year 2015 – 11 Office Sales: Average Price per SF = $160.68


Brandon / East Tampa Office Market (15,000 SF +) - Year over Year Changes (2015 to 2016)

Average Size Building Sold – 19.7% increase in the avg. building size sold from 95,251 SF to 114,043 SF

Price per Square Foot – 2.6% increase in average $/SF from 2015 to 2016

Number of Transactions – 9% decrease in the # of transactions from 2015 to 2016

Dollar Volume of Transactions – 4.3% increase in the total $ volume for transactions from 2015 to 2016


Thank you for your interest. For more information on the Brandon / East 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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