Rays Looking for New Home in Bay Area

Source: Tampa Tribune A group studying whether the Rays should leave Tropicana Field in downtown St Pete has identified 5 potential alternatives in the Bay Area, three of which are in neighboring Hillsborough County.  It is clear at this point that the Rays will be moving and discussions of the Rays potentially moving across the […]

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Kress Building Still Structurally Sound

It is one of downtown Tampa’s most recognizeable landmarks …. and eyesores.  The Kress building dates make to 1929 and is on National Registry of Historic Landmarks.  Local government officials have been worried about the building detracting from the renewal efforts in the core center, but it does not appear that the owners of the […]

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Downtown Tampa Parking Priced Higher than Rival Cities

A recent report found that Tampa’s daily parking rate ($15) exceeds competitive cities Atlanta, Charlotte,Jacksonville, Raleigh and Dallas.  I am not sure how much of an issue this is when companies are looking to relocate to Tampa, but I am quite sure it is an issue for real estate prices in the downtown submarket when compared […]

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Court Rules on Funds at Bankrupt Qualified Intermediary

This is an interesting article from Asset Preservation, one of the largest Qualified Intermediaries (QI) in the Section 1031 Exchange market, about a court ruling on bankrupt QI, LandAmerica.  In summary, the bankruptcy court recently ruled that the funds designated for exchange by one of LandAmerica’s former clients were to be included in the LandAmerica’s […]

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Deutsche Bank Analyst Says Market to Recover in 2017

An eye opening report came out today from Richard Parkus of Deutsche Bank Securites stating that the U.S. urban commercial real estate markets probably will not recover until 2017.  He goes on to compare the current state with the early 1990’s.  I am curious how he reconciles the level of inventory on the market today […]

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Report Reveals Continued Weakness in the Tampa Metro Economy

The Brookings Institute released their June report of the economic condition of the 100 largest economies in the country.  The Tampa Metro Area was ranked 91 out of 100.  Florida dominated with 7 areas noted on the list of the 20 Weakest Performing Areas.  (…State of the Economy) My Opinion: Its not surprising to see […]

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Tampa Metro Unemployment Climbs to 10.6% for May 2009

The number continues to creep higher, although at a reduced rate for the Tampa Area.  Where the inflection point is, no one knows.  The entire state climbed to 10.2%, up .5% from the revised April numbers of 9.7%.  Palm Coast had the state’s highest unemployment rate at 14.4%.  (……Tampa and Florida Unemployment Figures) Contact us […]

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Commercial Mortgage Backed Securities (CMBS) Defaults Increase

CMBS defaults continue to increase.  Not surprisingly, the 2006 and 2007 vintages faired the worst resulting from the most aggressive underwriting standards in the go-go peak of the market.  For those unfamiliar with these instruments, they account for roughly 25% of the total debt on US commercial property.  The instruments are used primarily for very […]

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Tampa New Homes Market Starting to Stablize?

There certainly are signs of life in the residential market.  Local residential realtors continue to weed through the bog that is short sales and foreclosures, but inventory levels continue to drop and absorption continues its positive march. Here is what one local builder has to say. (New Homes) Contact us at 813.514.1070 for more information […]

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HHGregg Dives in to Tampa

HHGregg Dives in to Tampa June 11, 2009 With the shuttering of Circuit Cities around the area, another consumer electronics store is looking hard at taking vacated space in the Tampa market.  Could the Circuit City store on N. Dale Mabry be an option? (Retailer Moves to Tampa) Contact us at 813.514.1070 for more information […]

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