Beating the High Cost of Property Insurance
Here are several strategies to try.
As the risks and costs of the effects of climate change become increasingly clear to investors, many are considering complex new strategies to try to tamp down or mitigate the rising costs of CRE property insurance.
Essentially all industrial demand is going to new buildings in Tampa Bay
Weakness in older properties contributes to vacancy rising to the highest level since 2016
Older buildings have been shedding tenants at a brisk pace so far this year. For industrial properties larger than 100,000 square feet, pre-2020 built properties have recorded negative 1.3 million square feet of absorption year to date.
Why Private Capital Is Voraciously Buying Up Office Assets
Small private equity firms are able to buy office assets below replacement cost—giving them a strong competitive market advantage.
Without question, the office sector has been the most challenging commercial asset class following the pandemic.
Small-bay industrial properties in these Central Florida suburbs have availability rates below 3%
Fast growing suburbs in the Sunshine State Have Very Few Options for Small and Mid-Sized Tenants
According to the most recent Census Bureau data, Florida ranked among the top three states in the U.S. for population growth between mid-2022 and mid-2023 on both an absolute and percentage basis.
Southwest Florida Multifamily Markets Hit Decade-High Vacancy Rates
Rebound in Renter Demand Unable To Keep Pace With New Completions
Southwest Florida is in the midst of a significant supply wave, which is impacting multifamily vacancies across the region.
CBRE Survey: Cap Rates Have Peaked
Improved sentiment driven by Fed's accommodative signals decline in bond yields versus October 2023 peak
Most respondents expect the expansion in commercial real estate cap rates to have peaked, CBRE said in a bi-annual survey, which polls the company's capital markets and valuation professionals on the direction of cap rates and the magnitude of the change they expect during the next six months.
Saxum Real Estate Partners Acquires Netpark Office in Tampa
Private Developer Sells 950,000-Square-Foot Mall-Turned-Office Complex
Saxum Real Estate Partners, a New Jersey-based investment firm, acquired a 947,176-square-foot office complex in Tampa, from a private developer for $45 million, or about $47.51 per square foot.
Tampa Office Investors Target Smaller Buildings
The Tampa office market recorded roughly $480 million in total sales volume over the first six months of 2024. And while the overall office investment trend has been towards smaller buildings trading, a significant portion of year-to-date deal volume can be attributed to the $150 million sale of 100 North, a 42-story office tower at 100 N. Tampa St. in the city’s central business district.
4 Ways that Data is Changing the Way We Transact
Due diligence practices are adjusting rapidly as investors examine their target acquisition through modern lenses that affect the way asset information is collected and used, as well as new key KPIs related to long-term asset performance.
What's Changed in CRE Sales Trends
Prices per square foot, cap rates, and occupancies were some of the top trends during May 2024.
Crexi's National Commercial Real Estate Report for May saw some overall positive changes for property owners.
At the top, they saw the asking price per square foot climb by 3.76% across the marketplace, accompanied by a cap rate compression from 6.82% to 6.6%. While that is good news on the surface, asking rents aren't necessarily what tenants pay.
Tampa Industrial Tenants Face Significant Rent Increases
Asking Rents Up Nearly 70% Since 2019
Asking rents averaged less than $8 per square foot in 2019 and are now above $12.60 per square foot on a triple net basis. Industrial asking rents increased an incredible 68% for the Tampa region since the end of the second quarter of 2019, with several areas surpassing even that.
Online shopping has completely disrupted the retail industry, and it continues to hit specialty shops like brick-and-mortar video game retailers.
GameStop, the country's largest video game retailer, is facing headwinds thanks to its e-commerce competitor: downloadable games.
At the start of 2016, I asked myself one question: “How can I make achieving my professional growth goals effortless?” I found the answer was elegantly simple — by focusing on alignment goals.