First-half investment sales are down 33% as institutional buyers logged $399 million in Hillsborough, Pinellas, Orange and Seminole counties compared to $590 million in the comparable 2001 period, a new Grubb & Ellis market survey shows.
But Sweeney sees a light in the darkened data tunnel. "Although overall sales have declined, office investment sales have increased as a percentage of the total from this time last year," he says.
In the first half of 2002, the Tampa Bay and Orland office sales attracted 49% and 38% respectively of the total investment capital flowing into commercial real estate, the G&E executive summary says.
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