This PowerPoint was created to showcase the commercial real estate market in the Tampa Bay Florida area.
NAIOP Broker members did 7 presentations covering all aspects of the industry.
12. Mike Davis Executive Director Cushman & Wakefield of Florida Inc. Investment Sales & Industrial Brokerage
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16. Warehouse/Distribution Industrial Cycle Market Equilibrium Accelerating Slow Growth Weakening Recovering Atlanta, Baltimore, Boston, Chicago, Contra Costa, Dallas, Hartford, Houston, Jacksonville, LA- Central, LA- North, LA- South, Long Island, Minneapolis, New Jersey- Central and Northern, Northern Virginia, Oakland, Orange County, Orlando, Portland, SF Peninsula , Silicon Valley, St. Petersburg/Clearwater, Suburban Maryland, Tampa Denver, Ft. Lauderdale, Inland Empire, Lakeland, Miami, PA I-81/I-78 Corridor, Palm Beach, Philadelphia, Phoenix, San Diego Source: Cushman & Wakefield Research
22. Total Transactions (000s) U.S. Sales $1 million and above Sources: Marcus & Millichap Research Services, CoStar Group, Inc., Real Capital Analytics 1H 2010 Annualized Total Dollar Volume (Bil.) Total Dollar Volume Total Transactions 1H 2010 Annualized Commercial Real Estate Sales Trends Tampa-St. Petersburg
23. Distress Scaled to Activity Distress Volume (billions) Scaled Distress as % of Market* * Distress volume as of July 21, 2010 as a % of total sales volume 2005-2008 Includes apartment, office, retail, industrial, and hotel properties (excluding casinos) Sources: Marcus & Millichap Research Services, Real Capital Analytics
24. Tampa Cap Rate Trends Includes Sales $1M+ Sources: Marcus & Millichap Research Services, CoStar Group, Inc. Average Cap Rate
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27. The National Retail Perspective NOT GOOD! The State Retail Perspective The Tampa Bay Retail Perspective Even Worse! Don’t Ask!
32. WHY TENANTS ARE NOT TAKING ADVANTAGE OF CURRENT MARKET CONDITIONS
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35. THE TAMPA BAY RETAIL SUMMARY Healthiest retail submarkets: Northeast and Northwest Tampa $14.50 SF 318,543 (512,190) 16,351,000 (7.8%) 210,956,000 Quoted Rental Rates Under Construction YTD Net Absorption Vacancy Total SF Existing Inventory Total GLA
36. TRENDS Tight lending will keep a check on speculative development An oversupply of retail space will slow speculative development Note sales of distressed properties by commercial banks
37. LANDLORD MOVES TO SURVIVE Managing bank relationships and capital issues Managing co-tenancy issues Leasing as much space as possible – Co-tenancy!
38. Sources: Marcus & Millichap Research Services, Realpoint WHAT WE NEED TO RECOVER IN RETAIL Jobs Jobs increase consumer confidence A confident consumer buys retail stuff
Updated: 2Q09 Sales Velocity by Property Type There were 12 apartment sales through the first quarter. There were 37 office sales through the first quarter. There were 48 multi-tenant retail sales through the first quarter. There were 26 single-tenant retail sales through the first quarter. There were 20 industrial sales though the end of the first quarter
Updated: 2Q09 Sales Velocity by Property Type There were 12 apartment sales through the first quarter. There were 37 office sales through the first quarter. There were 48 multi-tenant retail sales through the first quarter. There were 26 single-tenant retail sales through the first quarter. There were 20 industrial sales though the end of the first quarter
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Tampa – Office Buildings All Classes 20%
Choices: 5,000 SF # in Westshore 10,000 SF # in Westshore 20,000 SF # in Westshore 50,000 SF # in Westshore 100,000 SF # in Westshore
