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  • Mike Cliggitt, CCIM, MAI

Saint Petersburg, FL - 2015-2019 Small to Medium Office Transaction Summary (2,000-5,000 SF)

We have analyzed office sales data from the Saint Petersburg market for 2015 through 2019. There were 113 small to medium offices which were reviewed and summarized. These were smaller to medium sized office properties from 2,000 SF to 5,000 SF in size. The sales had an irregular distribution over the 5-year period, with the highest volume of office sales in this size segment occurring in the 2nd quarter of 2016. The average price per square foot from 2015-2019 showed a relatively consistent positive trend from 2015-2019 with a low outlier in the 1st quarter of 2016 and a high outlier in the 3rd quarter of 2017. Total transaction volume for this small office market segment totaled over $46 Million from 2015-2019. The average price per square foot for office transactions in 2015-2019 was $164.43/SF with an average building size of 3,202 SF. On a yearly basis the price per square foot analysis is as follows:

· 2015 – 14 Office Sales: Average Price per SF = $105.87

· 2016 – 31 Office Sales: Average Price per SF = $127.52

· 2017 – 18 Office Sales: Average Price per SF = $181.01

· 2018 – 24 Office Sales: Average Price per SF = $184.88

· 2019 – 26 Office Sales: Average Price per SF = $205.46

· 5 Year Totals – 113 Office Sales: Average Price per SF = $164.43





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



mike@cliggitt.com



Tampa Office Real Estate Advisor



www.cliggittrealty.com



www.cliggitt.com


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