http://floridatriplenet.com/blog Sun, 28 Feb 2010 00:14:09 +0000 http://backend.userland.com/rss092 en The retail vacancy rate in Tampa Bay shopping centers has grown to 10.5 percent or enough empty space to fill International Plaza about 10 times. Yet while retail rents continue declining to an average of about $15 a square foot, down from $16.53 last summer, industry experts think Florida's retail space glut ... http://floridatriplenet.com/blog/tampa-business-political-news/vacant-retail-space-continues-to-rise-in-tampa-fl/ I wandered over to the Hillsborough County-City Planning Commission's site this afternoon to download the latest report on commercial construction activity. It probably should shock no one that the activity in the area dropped 40.85% year over year to 42 total starts from 71 total starts in Q4 2008 ... http://floridatriplenet.com/blog/tampa-business-political-news/retail-construction-starts-dropped-89-from-q4-2005-to-q4-2009-tampa-fl/ I attended the Tampa Distressed Real Estate Summit in Tampa yesterday.  Although, my commercial real estate activity has picked up in the last few months and I seem to be eternally “busy,” it is always good to break away and hear what some of my peers are working on these ... http://floridatriplenet.com/blog/tampa-business-political-news/thoughts-from-a-recent-meeting-on-distressed-commercial-real-estate-assets/ Over the last several months, we have engaged some banks in assisting in selling some of their distressed assets.  Sometimes the property is owned by banks from foreclosure.  Other times, the bank is asking to sell the note, prior to foreclosure. We have seen a very wide array of asset types, ... http://floridatriplenet.com/blog/florida-commercial-real-estate/distressed-bank-notes-and-reos-in-florida/ Its not terribly surprising that the University of Florida's assessment of the 4th Quarter 2010 real estate market is largely unchanged from the previous quarter.  Market professionals continue to express concern about stagnant financial markets and rising unemployment in the state.  Here is a summary of the Tampa Bay Area commercial ... http://floridatriplenet.com/blog/tampa-business-political-news/bergstrom-center-for-real-estate-uf-releases-q4-results-cre/ Wedged in a blighted area between Downtown and Ybor City area commercial real estate and city officials are ecstatic about what the project can do for the area. The city of Tampa was notified by the U.S. Department of Housing and Urban Development that it will receive $38 million in federal ... http://floridatriplenet.com/blog/tampa-business-political-news/tampas-encore-project-has-area-cre-industry-looking-forward/ For those of you that have not been following the situation, local attorney Steve Burton was added to the Airport Authority's Board in the last couple of months.  Since then, he has been a tempest in a teapot, challenging status quo and making the establishment more than a little uneasy. ... http://floridatriplenet.com/blog/tampa-business-political-news/its-getting-hot-in-the-kitchen-for-tias-director-louis-miller/ Although, we normally reserve this blog for commercial real estate happenings, I believe this information is highly appropriate for our area. There are men and women around the world laying their lives on the line for our safety and respect should be given. My thoughts and prayers go out to ... http://floridatriplenet.com/blog/uncategorized/fallen-hero-escort-in-tampa/ “We are going to see distress continue to mount this year,” Bach said. Leasing rates for all sectors, including multifamily, retail, industrial and office, will continue to rise at least through the first six months, he said. Grubb & Ellis' Chief economist Robert Bach was in Tampa today to speak with Florida ... http://floridatriplenet.com/blog/tampa-commercial-real-estate-news-and-commentary/outlook-commercial-real-estate-recovery-to-begin-in-2010/ The U.S. average apartment vacancy rate was 8 percent and the asking rental rate was $1,026. Of the other major Florida markets, Miami had the lowest vacancy rate at 5.8 percent as well as the highest asking rental rate at $1,063. Tampa-St. Petersburg had a 10.7 percent vacancy rate and an ... http://floridatriplenet.com/blog/tampa-commercial-real-estate-news-and-commentary/tampa-apartment-vacancy-hovers-around-10/