Q2 2017 B Erhardt Tampa Bay Area Land

Quarterly Report Q2 - 2017

TAMPA OFFICE MARKET OVERVIEW

Existing Inventory

Vacancy

Market

# Buildings

Total GLA

Direct SF 396,281

Total SF l

Vac % YTD Net Absorption

YTD Deliveries

Under Const SF

Quoted Rates

Central Tampa Eastern Outlying Hernando County

1,635 2,476

15,622,147

450,766 2.9%

102,389 (1,530) 26,357 (7,068) 79,635 129,193

14,100 5,000

36,700 39,399

$18.15 $12.99 $11.30 $13.55 $15.89 $12.04 $16.86 $15.88 $14.83

28,995,500 1,303,401

1,303,401

4.5%

597

8,781,493

433,810 456,810 5.2%

0

0

I-75 Corridor

2,176 1,390 1,770 4,972 4,077

25,635,782 1,107,385 1,115,706 4.4%

13,525

81,200

North Hillsborough

18,704,946 24,897,481

732,216 733,016 3.9%

3,000 191,500

Pasco County

1,388,817 1,406,361

5.6% 5.2% 4.7%

4,000

49,720

Pinellas

54,751,128 2,724,324 2,821,812

57,125

32,850 170,266 4,460 361,600 126,935 930,385

Sarasota/Bradenton

48,842,626

2,225,562 2,282,456

81,478 5 467,579

Totals

19,093

226,231,103 10,311,796 10,570,328 4.7%

Cushman & Wakefield Market Overview – Tampa Westshore Office Overview: Overall vacancy at the end of 2nd quarter 2017 is 10.5% compared to 9.9% last year and 10.6% last quarter. Class A is at 8.7% compared to 9.7% last year and 9.3% last quarter. I-75 Office Overview: Overall vacancy at the end of the 2nd quarter 2017 is at 14.1% compared to 14.0% a year ago and 12.9% last quarter. Class A is at 6.9% compared to 9.4% a year ago and 7.4% last quarter. Tampa Central Business District: Overall vacancy at the end of the 2nd quarter 2017 is at 13.7% compared to 13.7% a year ago and 13.6% last quarter. Class A is at 10.0% compared to 10.3% a year ago and 9.5% last quarter.

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