Monday, June 12, 2017

Cushman & Wakefield’s Bruce Erhardt Releases Tampa Bay Land Report

Bruce Erhardt

TAMPA, FL — Cushman & Wakefield has released its 2017 1Q Tampa Bay Land Market Overview.

The quarterly report, authored by Executive Director Bruce Erhardt, offers insight into the Tampa Bay land market gleaned from his own research and experience and respected sources throughout the industry.

According to Erhardt, the exceptional demographics of the Tampa Bay market will continue to promote growth in the local land market through 2023.

“I’m still predicting the overall Tampa Bay land cycle has five to six years left, with solid growth for the next three years,” said Erhardt. “Population and job growth are the drivers.”

A brief overview of Erhardt’s findings in the Tampa Bay market can be found below:

Multifamily Land

The multifamily land market remains very active as it has for nearly six years. For-sale townhomes and condominiums continue to gain momentum in both urban and suburban markets. Suburban multifamily development is picking up steam as the availability of Class A urban infill sites dwindles. Infill assemblages are available.

Single Family Land

Builders and developers continue to drive the market for Class A and B single-family land, as they have for nearly eight years. The market has produced some land acquisitions outside the A/B market. Demand for entry-level sites is strong.

Port Tampa Bay, FL
Retail Land

The demand for retail land remains tenant- and location-driven. Interest in outparcel subdivisions and unanchored strips in Class A locations remains strong.

Industrial Land

New and local developers continue to put under contract and close industrial land positions in Tampa, Lakeland, Plant City and Manatee County/Lakewood Ranch.

Office Land

As it has for nearly five years, activity in the office land market has been limited to users and build-to-suits. Medical office construction by providers continues to be active. Several developers are eyeing Pasco County.

Hospitality Land

Hotel development remains active in both urban and suburban locations, as it has for the past three years.

Agricultural Land

The agricultural market remains active, with demand outpacing supply.

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For a complete copy of the company’s news release, please contact:

David A. Meyer
Meyer Media 
+ 1 407 489 7488

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