Study Reveals Tampa is the Least Expensive Large City
Very competitive labor costs along with moderately-low office/industrial leasing and sales tax costs help make Tampa the least-costly place to do business among 22 U.S. cities/locations with populations exceeding 2 million, according to a study by KPMG LLP, the audit, tax and advisory firm.
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This is not entirely surprising. The Tampa commercial real estate market has been pummeled by vacancies and falling rent rates. With high inventories of shadow-space and vacancies, one can conclude that the pain is not over. Tampa’s once bullet proof economy has shown to be WAY too reliant on the construction industry to employ its citizens. With the highest rate of unemployment in decades, devaluation of rents and prices of commercial property is a natural occurrence.
One of the reason why people are moving to this state more than any other states.
Tampa is noticeably more affordable than the southeast portion of Florida. I think the Tampa Bay/St Petersburg area is great for Commercial Real Estate.
Agreed. Lets hope some of the difference leads to jobs for the area. It sure would help the commercial real estate market.