Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
The 176-unit garden style multifamily development was sold by Nashville-based Carter-Haston. The deal for the property in Tampa's Bayshore submarket calculated out to a trade of $149,148 per unit.
The Opportunity Zone program is inspiring property owners that have held lower-quality assets with deferred maintenance to finally sell the assets, says Real Capital Analytics' Jim Costello.
Constructed in 2009 to serve as the U.S. headquarters of the Royal Bank of Scotland, the Class A trophy office building in Downtown Stamford is currently approximately 85% leased.
“From Polk County to Pinellas County, more people than ever are looking to build in Tampa, as evidenced by the tremendous amount of spec development going on today,” says JLL's John Dunphy.
The years-long tight market has hurt commercial real estate asset classes, with higher vacancy rents, lower asking rates and greater concessions, according to a report last year from JLL.
The retail REIT, which stated that the recent announcement of the closure of all dressbarn locations will not impact the company's core mall portfolio, reported that three of its properties topped $600-per-square-foot in sales in April.