Real Estate - Tampa, FL - 2014-2015 Office Market Transaction Summary (5,000 SF to 15,000 SF) : Cliggitt Valuation, Inc. Real Estate Blog
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Real Estate - Tampa, FL - 2014-2015 Office Market Transaction Summary (5,000 SF to 15,000 SF)

by Michael Cliggitt, MAI, MRICS on 02/14/16

Tampa, FL – 2015 Office Transaction Summary (5,000 SF to 15,000 SF) 

We have analyzed office sales data from the Tampa market for 2015. 20 sales were reviewed and summarized. These sales were of office properties in the 5,000 SF to 15,000 SF size range. Quarter 1 of 2015 was the strongest with regard to number of transactions. Quarter 2 had one less transaction but was the highest total dollar volume of sales for the year. Sales dropped off in the 3rd quarter to 3 sales and the 4th quarter posted 4 transactions within this size segment. Total transaction volume for the year for this size segment of the office market totaled over $26 Million and the average price per square foot for all transactions for 2015 was $143.15/SF with an average building size of 9,290 SF. On a quarterly basis the price per square foot analysis is as follows:

  • 1st Quarter 2015 – 7 Office Sales: Average Price per SF = $137.49

  • 2nd Quarter 2015 – 6 Office Sales: Average Price per SF = $151.92

  • 3rd Quarter 2015 – 3 Office Sales: Average Price per SF = $131.48

  • 4th Quarter 2015 – 4 Office Sales: Average Price per SF = $143.66

  • Full Year 2015 – 20 Office Sales: Average Price per SF = $143.15

Tampa Office Building Valuation Pricing Chart

*Data and Charts from Xceligent

 

 

Tampa, FL – 2014 Office Transaction Summary (5,000 SF to 15,000 SF) 

We have analyzed office sales data from the Tampa market for 2014. Just under 30 sales were reviewed and summarized. These sales were of office properties in the 5,000 SF to 15,000 SF size range. Transactions of offices in this size segment were well dispersed throughout the year with 7 office sales in the 1st Quarter, 9 office sales in the 2nd Quarter, 7 office sales in the 3rd Quarter and a slight drop to 6 sales in the 4th Quarter.  Total transaction volume for this office market segment totaled over $33 Million for 2014 and the average price per square foot for all transactions for 2014 was $134.45/SF with an average building size of 8,679 SF. On a quarterly basis the price per square foot analysis is as follows:

  • 1st Quarter 2014 – 7 Office Sales: Average Price per SF = $108.68

  • 2nd Quarter 2014 – 9 Office Sales: Average Price per SF = $145.86

  • 3rd Quarter 2014 – 7 Office Sales: Average Price per SF = $122.82

  • 4th Quarter 2014 – 6 Office Sales: Average Price per SF = $156.54

  • Full Year 2014 – 29 Office Sales: Average Price per SF = $134.45

Tampa Office Real Estate Valuation Pricing Data and Charts

 

Tampa Office Market (5,000 SF to 15,000 SF) - Year over Year Changes (2014 to 2015)

Average Size Building Sold – 7% increase in the average building size sold from 8,679 SF to 9,290 SF

Price per Square Foot – 6.5% increase in average $/SF from 2014 to 2015

Number of Transactions – 31% decrease in the # of transactions from 2014 to 2015

Dollar Volume of Transactions – 21% decrease in the total $ volume for transactions from 2014 to 2015

Thank you for your interest. For more information on the Tampa Office Market or to discuss your property valuation needs feel free to contact:

Mike Cliggitt, MAI, MRICS

813-405-1705 Direct Line

cliggittvaluation@verizon.net

www.cliggitt.com

Tampa Office Real Estate Appraiser

 

 

 

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