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Brandon & East Tampa, FL -2018-2019 Office Transaction Summary (5,000 SF to 15,000 SF)

Brandon / East Tampa, FL – 2019 Office Transaction Summary (5,000 SF to 15,000 SF)

We have analyzed office sales data from the Brandon / East Tampa market for 2019. Over 10 sales were reviewed and summarized. These sales were of medium to large office properties in the 5,000 SF to 15,000 SF size range. The number of transactions was well dispersed throughout the year, with the most transactions occurring in the 1st and 3rd quarters. Average price per square foot in the 1st quarter was substantially high compared to the average prices in each of the other quarters. Total transaction volume for the year for this size segment of the office market totaled nearly $25 Million and the average price per square foot for all transactions for 2019 was $304.75/SF with an average building size of 8,317 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2019 – 4 Office Sales: Average Price per SF = $493.92

· 2nd Quarter 2019 – 1 Office Sale: Average Price per SF = $219.73

· 3rd Quarter 2019 – 4 Office Sales: Average Price per SF = $154.92

· 4th Quarter 2019 – 3 Office Sales: Average Price per SF = $160.21

· Full Year 2019 – 12 Office Sales: Average Price per SF = $304.75


Brandon / East Tampa, FL – 2018 Office Transaction Summary (5,000 SF to 15,000 SF)

We have analyzed office sales data from the Brandon / East Tampa market for 2018. Precisely 15 sales were reviewed and summarized. These sales were of medium to large office properties in the 5,000 SF to 15,000 SF size range. Transactions of offices in this size segment displayed a positive trend throughout the year with the most transactions occurring in the 3rd and 4th quarters. Average price per square foot varied over the year, with peak price occurring 4th quarter. Total transaction volume for this office market segment totaled over $17.5 Million for 2018 and the average price per square foot for all transactions for 2018 was $207.08/SF with an average building size of 8,158 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2018 – 1 Office Sale: Average Price per SF = Data Not Available

· 2nd Quarter 2018 – 4 Office Sales: Average Price per SF = $217.00

· 3rd Quarter 2018 – 5 Office Sales: Average Price per SF = $125.44

· 4th Quarter 2018 – 5 Office Sales: Average Price per SF = $264.16

· Full Year 2018 – 15 Office Sales: Average Price per SF = $207.18


Brandon / East Tampa Office Market (5,000 SF to 15,000 SF) - Year over Year Changes (2018 to 2019)


Average Size Building Sold – 1.9% increase in the average building size sold from 8,158 SF to 8,317 SF

Price per Square Foot – 47.1% increase in average $/SF from 2018 to 2019

Number of Transactions – 20% decrease in the # of transactions from 2018 to 2019

Dollar Volume of Transactions – 38.2% increase in the total $ volume for transactions from 2018 to 2019


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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