If you are going to invest in commercial real estate it makes sense to carefully select and understand the market area where you will invest. Your investment will be influenced by the growth prospects of the local economy in which you choose to invest.
Like the rest of Florida, Tampa´s housing market had a severe indigestion in 2008. The rapid development pace for residential and commercial real estate was difficult to maintain. Housing prices dropped in the subprime lending crisis and commercial development slowed considerably. This had a negative effect on the local economy. So where do we go from her?
Facts about Florida
Due to the recent economic slump, Florida's population is now increasing at the slowest pace in 30 years. The state's population grew about 2.4 percent a year from 2000 to 2007. The new UF forecast is for just 1.1 percent annual growth from 2007 to 2010,, which will reduce the rapid economic growth that we are used to. This is still almost 600 new people per day vs 1,000+ people per day in 2007.Link: Click Here
Therefore, Florida continues to enjoy real growth and by 2010 Florida will surpass NY as the third most populated state in the USA. Even with the slowdown, Florida's population, now 18.7-million, is expected to be 26.6-million in 2035. So Florida's slowdown should be put in perspective. It is well positioned for growth. Florida-origin exports for 2007 increased more than 16% over 2006.In 2008 CNBCrated Florida the No 1 state in work force quality. Florida´s top trading merchandise partners are: Brazil, Japan, Germany, Venezuela and China. Every Florida business is within 90 miles of a deepwater port. Florida has more direct flights to Latin America and the Caribbean than all other US cities combined
The TampaBay area is a huge slice of the Florida pie, It currently home to 22% of Florida´s population and has 22% of the labor force. . TampaBay is a major beneficiary attracting new business and people because Tampa offers an quality of life and the infrastructure is in place to support growth. The Tampa area with its efficient ports has become a global gateway. With the Panama Canal being expanded and Cuba eventually opening up, Tampa Commercial Real Estate will continue to be a good investment. You can find some useful information at the Tampa Chamber . Click Here: Tampa chamber
Want to try something fun. Click on Calculator Link to see how the cost of living in Tampa compares with other cities:Click Here Cost of Living
TampaBay housing is amongst the most affordable in the country . A lower cost labor force promotes growth and will be a collateral boon to investors in Tampa commercial real estate
Some TampaBay Facts
• 7 county region on Florida's West Coast(Hernando ,Hillsborough ,Manatee , Pinellas ,
Interesting information about Tampa and the TampaBay area
Worldwide organizations with a major presence in the TampaBay region include JPMorgan Chase, Citigroup, Depository Trust and Clearing Corp., Raymond James, MetLife, State Farm, and Progressive Insurance . Coca-Cola Enterprises, Citigroup PricewaterhouseCoopers, T. Rowe Price, JPMorgan, and many others have recently elected to relocate significant operations into Florida´s TampaBay. Draper Laboratories just announced that they have selected TampaBay to open new research facilities.
Over 25 universities, colleges and higher education facilities including the Big East's largest. The University of South Florida (USF) is the third largest university in the Southeast.With four campuses in Tampa, St. Petersburg, Sarasota/Manatee and Lakeland and enrollment of over 42,500,USF is a major driver in the TampaBay region and is drawing world renowned R&D facilities. Click Here USF Link
Snapshot statistics highlighting the TampaBay area
In 2005, Fort De Soto Park (St. Petersburg) ranked as the #1 beach in the USA. You don´t find beaches like this anymore.Click here: Fort de Soto
StPetersburg was designated "America's Most Liveable Community
Five TampaBay area high schools landed on Newsweek magazine's list of top 100 high schools in the USA. One was in the top 10
In 2008 KMPG rated TampaBay is No 2 of the major US markets for lowest business costs
Conde Naste recognized TampaInternationalAirport as one of the top three markets worldwide. Cargo moves easily to global destinations.
CNBC in 2008 rated Florida the No 1 state in work force quality
The arts are a vital component of this vibrant community. Theater groups, orchestras, world-class performance halls, museums, galleries and much more provide enriching performances, inspirational youth education programs, and exhibits that showcase the world's most talented artists, actors and musicians.
Sports:
Over the past few years Tampa´s Sport teams have been putting Tampa on the Map
Tampa has been selected as the venue ofSuper Bowl XLIII. The impressive achievements ofTampaBay teams add to Tampa Bays growing recognition:
World class Tennis training facilities are located in TampaBay ? Saddlebrook and Bolliteri. Agassi, Sampras, Caprioti, Blake , the Williams sisters all trained here.
,It's no wonder families love TampaBay. The area is home to such favorites as BuschGardens, The Florida Aquarium, Museum of Science & Industry and Lowry Park Zoo
But its not only about spectator sports.TampaBay is a place to play hard also . Certainly, the TampaBay area offers a quality oflife that is difficult to surpass. We are surrounded by water and a beach is never far. The area´s warm weather enables out door activity all year long. TampaBay is renowned for its golf courses. Nature-lovers have so much to explore. When you invest in commercial real estate in Tampa and the TampaBay area, you are investing in a market that is positioned for economic and population growth. Let the experience of Tampa Commercial Real Estate help with your buying and selling needs in the TampaBay area
Please feel free to browse through this web site to explore the local counties of Hillsborough, Pasco, Polk, Pinellas and Manatee and also local cities and communities.
Thanks for visiting our online real estate source. Please contact me if our team can be of any help to you in your Commercial Real Estate needs. Please bookmark this site for future reference
Broker: Steven Silverman , Tampa Commercial Real Estate
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