In an interview with Invest, Franklin Street’s Founder & Chairman, Andrew Wright, discussed highlights of the last year in Tampa, challenges related to relocation and a near-term outlook for Franklin Street. Below are excerpts from the interview:
What have been some highlights from the last year?
The big story in Tampa Bay over the last year has been our region’s incredible population growth. We’ve been adding over 1,100 people a day to the state and as a result, our market across the board has been outperforming the rest of the country.
As a result, nearly every sector of the real estate market is thriving. As I’ve said before, it’s raining gold in Tampa Bay.
What are some of the challenges related to relocations to the region?
Relative affordability is a concern of our area. Historically, Florida has lagged behind the country in household median income and that is primarily due to the previous transient nature of the state.
We are experiencing a very competitive talent market, which, coupled with inflation and rising costs of living, makes compensation alignment very important for both recruitment and retention purposes.
What is your near-term outlook for your company?
Franklin Street is set to continue riding the wave of growth in Florida. We built this business to own it and operate it for the long haul.
We are already the largest privately held real estate services firm in the Southeast and that’s just the beginning.— CapitalAnalyticsAssociates.com