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  • Mike Cliggitt, CCIM, MAI

Saint Petersburg, FL - 2015-2019 Medium to Large Office Transaction Summary (5,000 to 15,000 SF)

We have analyzed office sales data from the Saint Petersburg market for 2015 through 2019. There were 64 medium to large offices which were reviewed and summarized. These were medium to large office properties from 5,000 SF to 15,000 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 3rd and 4th quarters of 2015. The average price per square foot graph showed a relatively positive trend from 2015-2019 with a few outliers. Total transaction volume for this small office market segment totaled over $60 Million from 2015-2019. The average price per square foot for office transactions in 2015-2019 was $137.15/SF with an average building size of 7,683 SF. On a yearly basis the price per square foot analysis is as follows:

· 2015 – 16 Office Sales: Average Price per SF = $101.84

· 2016 – 12 Office Sales: Average Price per SF = $116.84

· 2017 – 12 Office Sales: Average Price per SF = $150.03

· 2018 – 15 Office Sales: Average Price per SF = $177.05

· 2019 – 9 Office Sales: Average Price per SF = $165.43

· 5 Year Totals – 64 Office Sales: Average Price per SF = $137.15



Thank you for your interest. For more information on the Saint Petersburg 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





Saint Petersburg Office Real Estate Advisor





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