2019-07-10_DTZ戴德梁行_Office_Q1_2019_Tampa_4页_461kb

报告摘要

Tampa Office Market Q1 2019 Summary

Core Content

The Tampa Bay office market experienced notable growth and activity during Q1 2019, driven by strong leasing performance, increasing rents, and significant new construction projects. The report highlights economic indicators, market trends, and key transactions across different submarkets.

Economic Indicators

Tampa Bay MSA Employment: Increased by $26,200, representing an annual growth rate of 1.9%.
Tampa (Hillsborough) Unemployment: Dropped to 3.3% in Q1 2019, a decrease of 30 basis points from the previous year.
U.S. Unemployment: Declined to 3.8%, a decrease of 30 basis points from the previous year.

Market Overview

Overall Vacancy Rate: Rose to 11.5% in Q1 2019, up 20 basis points from Q1 2018.
Overall Rents: Increased by 7.1% year-over-year to $26.59 psf.
Class A Rents: Rose by 2.3% to $29.86 psf, with the CBD and Westshore submarkets seeing significant increases.
Leasing Activity: Total leasing activity reached 470,000 sf, with suburban markets contributing the majority (291,000 sf).
Net Absorption: YTD net absorption reached 141,366 sf, showing positive absorption trends.

Key Submarket Insights

Submarket	Inventory (SF)	Sublet Vacant (SF)	Direct Vacant (SF)	Overall Vacancy Rate	Current Qtr Net Absorption (SF)	YTD Net Absorption (SF)	YTD Leasing Activity (SF)	Under Construction (SF)	Avg Asking Rent (All Classes)	Avg Asking Rent (Class A)
Tampa CBD	6,017,990	45,385	508,478	9.2%	25,907	25,907	178,312	480,051	$29.21	$32.49
Westshore	12,594,881	206,863	1,225,323	11.4%	9,983	9,983	193,134	250,000	$29.74	$33.59
Northwest	4,273,183	20,281	423,566	10.4%	5,508	5,508	50,139	0	$22.44	$24.36
I-75 Corridor	7,405,990	89,474	1,043,722	15.3%	89,041	89,041	46,506	0	$23.51	$24.40
Southwest	361,242	0	15,686	4.3%	-15	-15	1,409	0	$22.53	N/A
Hyde Park	335,456	0	6,315	1.9%	-1,551	-1,551	0	0	$40.00	N/A
Ybor City	192,517	0	0	0.0%	12,493	12,493	0	0	N/A	N/A
Non CBD	25,163,269	316,618	2,714,612	12.0%	115,459	115,459	291,188	250,000	$26.20	$29.28
Tampa Totals	31,181,259	362,003	3,223,090	11.5%	141,366	141,366	469,500	730,051	$26.59	$29.86

Key Market Trends

Rents: Overall rents increased by 7.1% year-over-year, with Class A leading the trend.
Vacancy: While the CBD saw a decrease in vacancy, Westshore experienced an increase due to new supply and the shutdown of Laser Spine Institute.
Construction: Q1 2019 marked the most significant office construction in over a decade, with 730,000 sf under construction, surpassing the activity seen in Q3 2008.
Leasing Activity: Strong leasing activity with 469,500 sf leased year-to-date, driven by both new and renewal transactions.

Key Lease Transactions

Property	SF	Tenant	Transaction Type	Submarket
8800 Hidden River Parkway	135,000	CitGroup	Renewal	I-75 Corridor
100 North Tampa Street	63,514	Holland & Knight	Renewal	Tampa CBD
501 East Kennedy	60,635	WeWork	New	Tampa CBD
4050 W Boy Scout	26,636	PwC	New	Westshore

Key Sales Transactions

Property	SF	Seller/Buyer	Price / $PSF	Submarket
Austin Center (Portfolio Sale)	307,172	Redstone Investments/Ally Capital Group	$28,957,500/$94	Westshore
4301 Anchor Plaza Parkway	98,000	Balogh Family Foundation/Property Reserve	$17,825,000/$182	Westshore

Conclusion

The Tampa office market demonstrated robust performance in Q1 2019, with increasing rents, positive net absorption, and a surge in new construction. While the CBD submarket remained strong, Westshore faced challenges due to new supply and the closure of a major tenant. Cushman & Wakefield anticipates continued rent growth, particularly in Class A properties, and highlights the significance of the first quarter's construction activity as a key driver for future market trends.

展开完整摘要