In an interview with Invest: Tampa Bay, Matthew Harrell, Franklin Street’s CEO, shares his insight on the most in-demand commercial real estate types in the Tampa Bay market.
Industrial continues to be a hot ticket and although the office market still has some challenges ahead, leasing activity is picking up. As evidence that the office is by no means going away, in 2020, during the height of the pandemic, Franklin Street signed a 90,000-square-foot lease with Heritage Insurance at Westshore City Center, marking one of the largest office leases in Tampa in recent history. Across the board, commercial real estate investment is at all-time highs in terms of volume and per-square-footing pricing. This means investors are extremely confident in Tampa Bay’s future, even despite rising construction costs and ongoing supply chain challenges.— CapitalAnalyticsAssociates.com