•Hillsborough • Pinellas •Pasco • Hernando • Polk  • Manatee • Sarasota 

If you are going to invest or lease in commercial real estate it makes sense to carefully select and understand the market area. 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 here?

   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 to which Florida has been accustomed. However, even at this slower pace, this is still almost 600 new people per day moving tro Florida 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 CNBC  rated 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 Tampa Bay 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. . Tampa Bay is a major beneficiary of growth prospects, 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

 Tampa Bay 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.  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

Some Tampa Bay Facts
• Tampa Bay is the 7 county region on Florida's West Coast  (Hernando ,Hillsborough ,Manatee , Pinellas ,   Pasco, Polk , Sarasota). Click Here:   Map

•  4.13 million residents - • 156,000 businesses • 2 million in workforce
•   13th largest media market in U.S. • Port of Tampa is largest & most diversified seaport in Florida

Interesting information about Tampa and the Tampa Bay area

Worldwide organizations with a major presence in the Tampa Bay 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 Tampa Bay. Draper Laboratories recently announced that they have selected Tampa Bay to open new research facilities.

Largest Employers: Click Here  Tampa Bay employers

 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 Tampa Bay region and is drawing world renowned R&D facilities. Click Here USF Link

Snapshot statistics highlighting the Tampa Bay area

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 of  Super Bowl XLIII. The impressive achievements of  Tampa Bay teams add to Tampa Bays growing recognition:

•           NFL - Tampa Bay Buccaneers (2002 SuperBowl Champs)

•           NHL - Tampa Bay Lightning (2004 Stanley Cup Champs)

•           MLB - Tampa Bay Devil Rays (2008 American League Champions)

Click here for more information:  Professional Sports

Baseball - Spring Training Teams in Tampa bay:

•           New York Yankees, Tampa

•           Toronto Blue Jays, Dunedin

•           Cincinnati Reds, Sarasota

•           Philadelphia Phillies, Clearwater

•           Pittsburg Pirates, Bradenton

•           Cleveland Indians, Winter Haven

•           Detroit Tigers, Lakeland

•           Boston Red Sox, Ft. Myers

World class Tennis training facilities are located in Tampa Bay ? Saddlebrook and Bolliteri. Agassi, Sampras, Caprioti, Blake , the Williams sisters all trained here.

,It's no wonder families love Tampa Bay. The area is home to such favorites as Busch Gardens, The Florida Aquarium, Museum of Science & Industry and Lowry Park Zoo

But its not only about spectator sports.  Tampa Bay is a place to play hard also . Certainly, the Tampa Bay area offers a quality of  life 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. Tampa Bay is renowned for its golf courses. Nature-lovers have so much to explore.  When you invest in commercial real estate in Tampa and the Tampa Bay 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 Tampa Bay area

 Tampa Bay Commercial Real Estate News

January 2009 - Tampa Bay high on Caffeine - Tampa on caffeine  (This must be the fuel that drives Tampa Commercial Real Estate associates)

February 2009 - Investments from Washington  that will spur jobs   Tampa Bay Job creation

February 2009 - Tampa Bay districts to get 49,500 jobs  Tampa Bay Jobs

March 2009: Tampa Bay has a high commercial delinquency rate Tampa Bay Commercial Delinquency

March 2009: Tampa Bay Apartment Outlook : Globe St - Gulf Coast Apartment Opportunities Abound  See article : Globe St Apartment.
Globe St writes that the housing crisis along the Gulf of Mexico coastline presents an advantage for apartment landlords. As home mortgages become more restrictive, tenants cannot move and continue to rent. This will primarily benefit Class A apartment complexes in Tampa, St. Petersburg and surrounding cities but the forecasts is for an area-wide vacancy rate of nearly 10% 

Despite an unusually high rate of home foreclosures within the Tampa Bay market, apartment owners have not seen a material increase in renter traffic as a result.. That´s because many foreclosed homeowners are choosing to rent single-family homes, deferring demand for traditional apartments until the housing market shows a rebound

Class A apartment complexes are now trading at cap rates of approximately 6%, while class B and C properties are between 7% and 8%,

Brokers comment that  while investors will likely remain highly selective, many feel the market has bottomed and are noticing more market activity in the 100+ unit sector. Developers are looking at Hernando and Pasco Counties, as well as considering previously overlooked locations in core areas such as South Tampa and neighborhoods surrounding Tampa International Airport

In the near term, investors will remain highly selective. However, Apartment developers are scouting sites in the path of projected population growth in Hernando and Pasco Counties, as well as considering previously overlooked locations in core areas such as South Tampa. Untapped opportunities also exist in the southern end of Hillsborough County, east of Tampa Bay, plus other areas north and south of the bay along Interstate 75. The Sarasota market is poised for a rebound

Job losses in the Tampa market are expected to be fewer this year than in 2008, at 2.3% or 28,000 positions. At the same time, approximately 900 new units are expected to be completed in 2009, roughly 40% of the volume delivered last year