Retail Vacancy Continues to Rise in Tampa, FL

The retail vacancy rate in Tampa Bay shopping centers has grown to 10.5 percent or enough empty space to fill International Plaza about 10 times. Yet while retail rents continue declining to an average of about $15 a square foot, down from $16.53 last summer, industry experts think Florida’s retail space glut has peaked, consumer spending […]

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Retail Construction Starts Dropped 86.5% from Q4 2005 to Q4 2009 – Tampa, FL

I wandered over to the Hillsborough County-City Planning Commission’s site this afternoon to download the latest report on commercial construction activity. It probably should shock no one that the activity in the area dropped 40.85% year over year to 42 total starts from 71 total starts in Q4 2008 (Can you even consider 43 starts […]

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Thoughts from a Recent Meeting on Distressed Commercial Real Estate Assets

I attended the Distressed Real Estate Summit in Tampa yesterday.  Although, my commercial real estate activity has picked up in the last few months and I seem to be eternally “busy,” it is always good to break away and hear what some of my peers are working on these days. “Distressed assets” is the buzz […]

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Distressed Bank Notes and REO’s in Florida

Over the last several months, we have engaged some banks in assisting in selling some of their distressed assets.  Sometimes the property is owned by banks from foreclosure.  Other times, the bank is asking to sell the note, prior to foreclosure. We have seen a very wide array of asset types, everything from unfinished residential […]

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Bergstrom Center for Real Estate (UF) Releases Q4 Results

Its not terribly surprising that the University of Florida’s assessment of the 4th Quarter 2010 real estate market is largely unchanged from the previous quarter.  Market professionals continue to express concern about stagnant financial markets and rising unemployment in the state.  Here is a summary of the Tampa Bay Area commercial markets: Cap rates increased over […]

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Tampa’s Encore Project Has Area #CRE Industry Looking Forward

Wedged in a blighted area between Downtown and Ybor City area commercial real estate and city officials are ecstatic about what the project can do for the area. The city of Tampa was notified by the U.S. Department of Housing and Urban Development that it will receive $38 million in federal funding from the American […]

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Its Getting Hot in the Kitchen for TIA’s Director Louis Miller

For those of you that have not been following the situation, local attorney Steve Burton was added to the Airport Authority’s Board in the last couple of months.  Since then, he has been a tempest in a teapot, challenging status quo and making the establishment more than a little uneasy.  Most of his arrows have […]

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Fallen Hero Escort in Tampa

Although, we normally reserve this blog for commercial real estate happenings, I believe this information is highly appropriate for our area. There are men and women around the world laying their lives on the line for our safety and respect should be given. My thoughts and prayers go out to the family and loved ones. […]

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