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By John Milsaps - October 13th 2020
Jobs and unemployment are important factors shaping the office sector. Increasing numbers of jobs indicated an increased need for office space, while higher numbers of unemployment show the potential for a decreased need. Here are the latest unemployment numbers for your consideration. The Tampa area unemployment rate was 6.8% in August, up 3.5 percentage points YOY In August, two main sectors gained YOY jobs: Government (+3,100); and Construction (+1,400) The industries losing the most jobs YOY: Leisure & Hospitality (-34,400 […]
By John Milsaps - October 13th 2020
As we made our way into the end of the first half of a truly unprecedented year, sales started to pick up although still showing year-over-year declines. In June, the office market transaction volume was $17,739,000 versus $66,800,100 in 2019, reflecting a -73.4% YOY decrease. The number of transactions declined slightly from 13 in June 2019 to 12 in June 2020. In July, the total volume was $12,580,200 versus $252,231,000 in 2019. This reflects a -95% YOY decrease in transaction […]
By John Milsaps - October 10th 2020
Employment trends have a direct impact on office demand. As foreseen, national employment in office-using sectors has seen job losses. However, at a 5.6% decline YOY in July 2020, it demonstrates better performance than the overall economy which experienced a decrease of 7.5% YOY. Financial activities, one of Tampa’s biggest sectors, has shown more resilience with fewer losses than the information & professional, and business service sectors, reflecting only -1.4% nationally. Financial activities include employment in finance, insurance, and real […]
By John Milsaps - September 11th 2020
While a lot has changed over the last few months, one thing hasn’t–and that’s Tampa’s continuing growth, national visibility, and strategic importance. One of the many companies that are making major moves in the Tampa area is Amazon. The retail behemoth is growing its presence in our region in a big way and the pandemic hasn’t slowed it down. The company seems to have found its place in Florida and it’s in Tampa. Their footprint will be a whopping… 6,774,291 […]
John Milsaps has spent the past decade dedicated to his role as a commercial real estate professional who specializes in landlord representation and seller representation. Working as a senior advisor with SVN Florida Advisors, he has consistently proven both his commitment to his clients, as well as his extensive knowledge of varying commercial space transactions. His familiarity and understanding of the Tampa bay business community only furthers his ability to connect business owners to the right strategic partners or buyers, whether local or nationwide....