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  • Mike Cliggitt, CCIM, MAI

2015-2019 Small Office Transaction Summary (0 - 2,000 SF)-Lakeland, FL

Updated: 11 hours ago

Lakeland, FL – 2015-2019 Small Office Transaction Summary (up to 2,000 SF) We have analyzed office sales data from the Lakeland market for 2015 through 2019. There were 50 small offices which were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The sales had a well dispersed distribution over the 5-year period, with the highest volume of office sales in this size segment occurring in the 4th quarter of 2018, followed by the 3rd quarter of 2018. The average price per square foot from 2015-2019 showed a relatively positive trend from 2015-2019. The highest average price per square foot shows peak values in 2018. Total transaction volume for this small office market segment totaled approximate $6.2 Million from 2015-2019. The average price per square foot for office transactions in 2015-2019 was $136.60/SF with an average building size of 1,493 SF. On a yearly basis the price per square foot analysis is as follows:

  • 2015 – 10 Office Sales: Average Price per SF = $114.66

  • 2016 – 7 Office Sales: Average Price per SF = $103.36

  • 2017 – 6 Office Sales: Average Price per SF = $106.47

  • 2018 – 17 Office Sales: Average Price per SF = $175.89

  • 2019 – 10 Office Sales: Average Price per SF = $130.11

  • 5 Year Totals – 50 Office Sales: Average Price per SF = $136.60


*Data and charts from CoStar

Thank you for your interest. For more information on the Lakeland 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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