Tampa, FL - 2014 Small Office Transaction Summary (2,000 SF to 5,000 SF)

We have analyzed office sales data from the Tampa market for 2014. Just under 60 sales were reviewed and summarized. These were smaller office properties in the 2,000 SF to 5,000 SF size range. The first quarter of 2014 was relatively quiet with just six transactions. But transaction volume picked up substantially in the 2^nd quarter with 19 office sales and stayed relatively strong through the remainder of the year with 18 transactions in the 3^rd quarter and 16 in the 4^th quarter of 2014.  Total transaction volume for this small office market segment totaled over $24 Million for 2014 and the average price per square foot for all transactions for 2014 was $124.30/SF with an average building size of 3,272 SF. On a quarterly basis the price per square foot analysis is as follows:

• 1^st Quarter 2014 – 6 Office Sales: Average Price per SF = $79.66
• 2^nd Quarter 2014 – 19 Office Sales: Average Price per SF = $128.52
• 3^rd Quarter 2014 – 18 Office Sales: Average Price per SF = $128.22
• 4^th Quarter 2014 – 16 Office Sales: Average Price per SF = $133.38
• Full Year 2014 – 59 Office Sales: Average Price per SF = $124.30

Tampa Office Market (2,000 SF to 5,000 SF) - Year over Year Changes (2014 to 2015)

Average Size Building Sold – 9% decrease in the average building size sold from 3,272 SF to 2,968 SF

Price per Square Foot – 20% increase in average $/SF from 2014 to 2015

Number of Transactions – 12% decrease in the # of transactions from 2014 to 2015

Dollar Volume of Transactions – 6% decrease in the total $ volume for transactions from 2014 to 2015

Appraising Office Property and Commercial Real Estate - Tampa, FL



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, CCIM

813-405-1705 Direct Line

findvalue@cliggitt.com

www.cliggitt.com