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 in JAN 2021 than in JAN 2020.

• The AVG $/SF increased +6.8% from $190 in 2020 to $203 in 2021.

  • There have been YOY AVG $/SF increases consistently over the past 7 months, since July 2020.

In December 2020 the was a +14.3% YOY increase from $23,285,400 in DEC of 2019, to $26,606,6oo in 2020.

• Out of the 19 sales transactions, there were 15 professional offices and 4 medical office sales.

• There was a small-scale increase in AVG $/SF for DEC 2020 to $186, from $185 in 2019 — exhibiting a slight +0.5% increase YOY.

The largest sales transaction value for the month of January 2021 was for a medical office property in Tampa, FL. The property sold for $5,520,000.

?  5013 N ARMENIA AVE, TAMPA, FLORIDA, 33603. Property specs:

• Built-in 1985
• 17,975 SF | 2.77 Acres
• Price/SF $307

Wondering how much your property could sell for? To get the full details on all JAN 2021 sales in the Hillsborough County| Tampa area, including YOY analysis by download the Tampa Office Sales Comps & Report below, or reach out to me for more information on the local market!