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Tampa, FL – 2015-2019 Office Transaction Summary (15,000+ SF)

Tampa, FL – 2015-2019 Office Transaction Summary (15,000+ SF)

We have analyzed office sales data from the Tampa market for 2015 through 2019. There were 288 office sales which were reviewed and summarized. These were large office properties over 15,000 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 3rd quarter of 2015, the 4th quarter of 2016, and the 4th quarter of 2018. The average price per square foot from 2015-2019 showed an inverse trend to number of transactions, with a few outliers. Average price per square foot peaked in late 2019 at approximately $305/SF. Total transaction volume for this large sized office market segment totaled nearly $4 Billion from 2015-2019. The average price per square foot for office transactions in 2015-2019 was $169.99/SF with an average building size of 81,047 SF. On a yearly basis the price per square foot analysis is as follows:


· 2015 – 55 Office Sales: Average Price per SF = $179.32

· 2016 – 63 Office Sales: Average Price per SF = $158.31

· 2017 – 60 Office Sales: Average Price per SF = $160.09

· 2018 – 62 Office Sales: Average Price per SF = $159.07

· 2019 – 48 Office Sales: Average Price per SF = $202.73

· 5 Year Totals – 288 Office Sales: Average Price per SF = $169.99


Summary of Office Transactions in Tampa for 2015-2019
Tampa Commercial Real Estate Data - 2015-2019 Office Transaction Summary 15K + SF


*Data and charts from CoStar


Thank you for your interest. For more information on the Tampa Office Market or to discuss your property investment 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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