Tampa Bay Top Stories

Colliers sells Sand Dollar Apartments

Thursday, July 29th, 2010

CLEARWATER - Colliers International Tampa Bay Florida announced the recent sale of Sand Dollar Apartments, a 40-unit apartment community in Tampa. Sand Dollar Apartments was sold by Crown NorthCorp Inc. for $990,000 as a distressed sale and was purchased by Catholic Charities-Sand Dollar Inc.

Tampa office market sees more tenant demand

Tuesday, July 27th, 2010
By: 
Cushman & Wakefield

TAMPA - A growing number of positive indicators, including an increase in job opportunities and a decline in the unemployment rate, provide continued evidence that the Tampa Bay metropolitan statistical area's economy is slowly recovering.

Additionally, existing single-family home prices appear to be stabilizing in the Tampa Bay MSA. The median sales price of homes in the Tampa Bay market hit $129,300 in May 2010, off just 1% when compared to the median home price recorded during the same time last year.

Pinellas office rents hit 4-year low

Tuesday, July 27th, 2010
By: 
Cushman & Wakefield

ST. PETERSBURG - During the second quarter of 2010, the Tampa Bay metropolitan statistical area's economy continued to improve from the extreme downturn that has plagued the area for more than two years. Employment increased by 1,400 new jobs from March 2010 through May 2010. Federal government employment increased by 5,900 over the last three months, though this is primarily due to the temporary workers hired for the 2010 U.S. Census.

Vacancy climbs in Pinellas industrial market

Tuesday, July 27th, 2010
By: 
Cushman & Wakefield

ST. PETERSBURG - During the second quarter of 2010, the Tampa Bay metropolitan statistical area demonstrated that the region's economic recovery has continued to strengthen. The unemployment rate decreased a full percentage point to 11.7% from March through May 2010, and employment increased by 1,400 jobs.

Rebound begins in Lakeland industrial market

Tuesday, July 27th, 2010
By: 
Cushman & Wakefield

LAKELAND - Signs of an economic recovery began to emerge in the Lakeland-Winter Haven metropolitan statistical area during the first half of 2010. The unemployment rate decreased seven-tenths of a percentage point to 12% from year-end 2009 through May 2010 and employment increased by a net of 100 new jobs.

Tampa industrial market takes positive turn

Monday, July 26th, 2010
By: 
Cushman & Wakefield

TAMPA - During the second quarter of 2010, the Tampa Bay metropolitan statistical area demonstrated that the region's economic recovery has continued to gain strength. The unemployment rate decreased a full percentage point to 11.7% from March through May 2010, and employment increased by 1,400 jobs.

Blue Rock featured in Multifamily Executive

Friday, July 23rd, 2010

TAMPA - Blue Rock Partners LLC, the Bay area's largest owner-operator of apartment communities with nearly 4,000 units in Tampa Bay and Orlando, is nationally featured in a full-page article titled "One To Watch" in Multifamily Executive magazine published July 2010.

Led by Co-Managing Partners Randy X. Ferreira, CPM, and Reuven Oded, Blue Rock was showcased as seeing "tremendous opportunity over the next 18-24 months to acquire value-added apartment properties throughout Florida."

M&M sells Wildwood Villas

Friday, July 23rd, 2010

CLEARWATER - Marcus & Millichap Real Estate Investment Services announced the sale of Wildwood Villas, an 18-unit apartment property in Clearwater. The asset commanded a sales price of $475,000.

Casey Babb, CCIM, senior associate in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private, Miami-based investor.

Paul Bouldin, a senior associate, also in the firm's Tampa office represented the Tampa-based buyer.

Prudential sells West Pasco space

Thursday, July 22nd, 2010

ODESSA - Prudential Commercial Real Estate FL announced the sale of a building in the West Pasco Industrial Park for $252,000, according to Renee Dyer, CCIM, ALC, who handled the transaction for the firm.

The 3,000sf property at 2345 Success Drive was purchased by Applied Foundation Testing, which is a tenant in the park. Seller was Lineage Company.

Kraft Construction: Plant City courthouse

Wednesday, July 21st, 2010

PLANT CITY - Kraft Construction's Central Florida team has begun construction on the new courthouse on Michigan Avenue in Plant City directly across from the current courthouse, parts of which date back to the 1950s.

The two-story, 60,000sf building is slated for completion during the third quarter of 2011. The facility is intended to accommodate the courts of the 13th Judicial Circuit and related support functions such as the Sheriff's Office, Public Defender, State Attorney, and Clerk of the Circuit Court.