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Office Leasing Activity February 2021 by John Milsaps

Office Leasing Activity | FEB 2021

How has office leasing activity changed during the pandemic? Lease renewals dominated the office leasing market activity last year with renewals accounting for 70% of it in 2020 vs 29% before COVID. 📌 According to a recent report, about 43% of the renewals in Q4 were 5 years or shorter in duration. Incentives and discounts are also playing a bigger role. In the hard-hit office market of New Yo...

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Tampa Office Sales Comps JAN 2021 by John Milsaps

Tampa Office Sales Comps & Report | ...

As we make our way out of the COVID-induced market uncertainty, the office outlook continues to evolve. In January 2021 the total transaction volume was $18,136,300. There was a +58.4% increase YOY from $11,445,700 in JAN 2020. Out of the 13 sales transactions, there were 9 professional offices and 4 medical office sales. While the sales volume went up YOY, there were fewer transactions executed i...

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Office-using employment update Feb 2021 by John Milsaps

Office-Using Employment Update FEB 2021 |...

Employment trends have an impact on office demand. Analyzing office-using employment can reveal potential leasing trends & acquisition and disposition opportunities. Two major office-using sectors gained jobs over the year in January 2021. The Professional & Business Services sector saw an increase of +2,300 jobs, and the Financial Activities sector saw an increase of +1,700 jobs YOY. The ...

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Office-Using Employment Update JAN 2021 |...

Employment trends have an impact on office demand. Analyzing office-using employment can reveal potential leasing trends & acquisition and disposition opportunities. There was consistent month-over-month growth in the Financial Activities and Professional & Bussiness Service sectors in the Tampa-St. Petersburg-Clearwater MSA from SEP-DEC. The Information sector remained unchanged from NOV-...

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Tampa Office Sales Comps & Report | ...

We are halfway through the first quarter of 2021 and are happy to already see signs of a recovery. While the number of transactions is still down over the same period last year, in December we saw more volume, a higher max price, and a higher AVG $/SF YOY for the month. In December 2020 a total of 19 transactions took place in the Hillsborough County/ Tampa area. The total transaction volume for ...

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Benefits of a Sale-Leaseback

Benefits of a Sale-Leaseback (Infographic...

I’ve gotten several inquiries about sale-leasebacks so I thought I’d post more information on what they are, and how they could benefit office property owners. 📌 A sale-leaseback offers office property owners an opportunity to access the equity and cash they have in their office investment, lighten the debt load, and remain in the property. If that sounds like something you would li...

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The Tampa Area is growing by leaps and bounds, so where is everybody going?

The Tampa Area is Growing By Leaps &...

Hillsborough County’s population is projected to grow more than the Tampa MSA, the state of Florida, and the nation by 2025. As people move out of high-density metros, many look to the Tampa area. Both Hillsborough & Pasco counties are expected to grow at a faster rate than Florida and the U.S. market as a whole. Hillsborough’s rate of growth over the 2020-2025 period is expected ...

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Tampa Office Sales Comps October - November 2020 by John MIlsaps

Tampa Office Sales Comps & Report | ...

2020 was unlike any other year we’ve experienced, in general, and in the commercial real estate space. In particular, because of the nature of the pandemic, the office market was especially impacted. The worst-hit were properties located in high-density cities and central business districts (CBDs). Faring much better–although still affected–were lower-density markets and the subu...

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John Milsaps Office-Using Employment Update Jan 2021

Office-Using Employment Update JAN 2021 |...

Analyzing office-using employment can reveal potential leasing trends & acquisition and disposition opportunities.  In two of the three office-using employment sectors in the Tampa-St. Petersburg-Clearwater MSA measured for this report, we’ve seen month-over-month increases between September and November 2020, with the third remaining unchanged.   INFORMATION SECTOR | JAN-NOV 2020 ...

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Medical Office Building Quarterly Update by John Milsaps

H2C’s MOB Quarterly Update | DEC 20...

Health systems lead third-quarter activity as cap rates show modest compression during a quarter that saw lower transaction volume. The H2C’s second quarterly medical office building (“MOB”) report reflecting the full impact of the COVID-19 pandemic. While COVID-19 continues to weigh on transaction volumes, with volumes totaling only $1.6 billion, marking the lowest quarterly transaction vol...

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Tampa Office market sales comps for September - October 2020 by John Milsaps

Tampa Office Sales Comps & Report | ...

2020 has been a roller coaster. Little by little, parts of the economy have been starting to move toward recovery. Metrics for October 2020 show a continuation of the upward trend, including transaction volume growth, an increase in the number of transactions, and climbing AVG $/SF to reflect the ongoing recovery In October 2020 a total of 16 transactions took place in the Hillsborough County/Tamp...

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MOBs Are Hot Right Now

MOBs Are Hot Right Now

Is it time to sell and cash-out to invest in higher-yielding asset classes? Some investors seem to think so. Many property types have taken a hit over the last few months in pricing and transaction volume. While transaction volume has certainly been impacted, medical office building (MOB) pricing continues to hold steady while the price per square foot for the asset class has actually trended upwa...

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