We’re now eight months into a historic pandemic. While everyone has been hard hit, the Tampa/Clearwater/St. Pete MSA’s diversified economy is helping us on the road to recovery as office sales activity steadily picks back up.
The total transaction volume in Tampa for August of this year was $11,611,600. Compared to $120,458,500 in AUG 2019, this reflects an approximate -90% YOY decline.
The huge difference in volume can be largely attributed to three large transactions in AUG 2019.
The first was for $80M for 262,369 SF situated on 14.68 acres at 3000 Bay Port Drive in Tampa.
The other two were for $15.1M and $16.9M in Tampa and Brandon, respectively. The Tampa transaction was for 131,908 SF, while the Brandon sale was for 54,028 SF.
However, while sales volume experienced a sharp decline for the July/August period on a YOY basis, the number of transactions remained relatively steady and strong.
AUG 2020 had a total of 19 transactions, only a slight -9.5% YOY decrease when compared to AUG 2019 which had 21 transactions.
In August, the highest sales price was $3,000,000 which was achieved by a professional office property located in Tampa. With 18,112 square feet, the Price/SF was
📌 613 Oakfield Dr. in Brandon. Property specs:
- Built-in 1974
- 18,112 SF
- 10.96 Acres
- $166 Price/SF
For more market insights, including July & August Year-Over-Year analysis, download the Tampa Office Sales Comps & Report below or reach out to me for more information on the local market!