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Brandon & East Tampa, FL -2016-2017 Small Office Transaction Summary (up to 2,000 SF)

Brandon / East Tampa, FL – 2017 Small Office Transaction Summary (up to 2,000 SF)

We have analyzed office sales data from the Brandon / East Tampa market for 2017. Just over 20 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The sales were relatively equal in distribution throughout the year, with the peak number of transactions occurring in the 3rd quarter at 7 transactions. The other quarters of the year all had 5 transactions each. Average price per square foot peaked in price in the 3rd quarter. Total transaction volume for this small office market segment totaled over $3 Million for 2017 and the average price per square foot for office transactions for 2017 was $154.08/SF with an average building size of 1,426 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2017 – 5 Office Sales: Average Price per SF = data not reported

· 2nd Quarter 2017 – 5 Office Sales: Average Price per SF = $92.84

· 3rd Quarter 2017 – 7 Office Sales: Average Price per SF = $188.61

· 4th Quarter 2017 – 5 Office Sales: Average Price per SF = $148.17

· Full Year 2017 – 22 Office Sales: Average Price per SF = $155.57


Brandon / East Tampa, FL – 2016 Small Office Transaction Summary (up to 2,000 SF)

We have analyzed office sales data from the Brandon / East Tampa market for 2016. Precisely 6 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The 1st quarter of 2016 started with 3 transactions, which was the highest for the year. Sales fell to 1 transaction in the 2nd quarter and 0 sales in the 3rd quarter. Sales rose again in the 4th quarter to 2 transactions. Total transaction volume for this small office market segment totaled over $600 Thousand for 2016 and the average price per square foot for all transactions in the size segment for 2016 was $97.86/SF with an average building size of 1,689 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2016 – 3 Office Sales: Average Price per SF = $125.36

· 2nd Quarter 2016 – 1 Office Sales: Average Price per SF = $84.96

· 3rd Quarter 2016 – 0 Office Sales

· 4th Quarter 2016 – 2 Office Sales: Average Price per SF = $92.98

· Full Year 2016 – 6 Office Sales: Average Price per SF = $97.86


Brandon / East Tampa Office Market (up to 2,000 SF) - Year over Year Changes (2016 to 2017)

Average Size Building Sold – 15.6% decrease in average size building sold from 1,689 SF to 1,426 SF

Price per Square Foot – 59% increase in average $/SF from 2016 to 2017

Number of Transactions – 266.7% increase in the # of transactions from 2016 to 2017

Dollar Volume of Transactions – 407% increase in the total $ volume for transactions from 2016 to 2017


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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