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| 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.
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| 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.
For more information,
please visit http://www.cushwakelandfl.com/tampa/.
To learn more, visit
www.cushwakecentennial.com, www.cushmanwakefield.com
or follow @CushWake on Twitter.
For a complete copy of the company’s news release,
please contact:
David A. Meyer
Owner
Meyer Media
+ 1 407 489 7488
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