Pulse360 | TAMPA2020 | Page 29

3. REAL ESTATE OVERVIEW

// RETAIL STATS

AVERAGE
OCCUPANCY

91.2%
0.4%

FROM
THE PEAK
1Q 2006

FROM
THE CRASH
2Q 2010

-2.9%

+2.6%

ASKING
RENTAL RATE

$13.72
0.4%

FROM
THE PEAK
3Q 2008

-$2.64

FROM
THE CRASH
2Q 2014

+$0.28

// SUBMARKET ACTIVITY
Submarket

1,203,664

MY15

90.1%

Occupancy
YE15
Change
-0.1%

MY15

$11.43

Asking Rent
YE15

90.0%

Change

533,322

94.9%

94.7%

-0.2%

$14.24

$14.55

2.2%

East Tampa

5,829,882

94.9%

95.2%

0.2%

$15.84

$16.17

2.1%

Gateway

1,567,831

94.0%

94.4%

0.4%

$12.81

$13.05

1.9%

Hernando County

4,701,902

90.7%

91.1%

0.4%

$10.95

$10.53

-3.8%

Mid-Pinellas

6,248,872

89.7%

90.2%

0.5%

$14.29

$14.08

-1.5%

North Pinellas

7,719,319

90.1%

91.2%

1.2%

$14.05

$14.69

4.6%

Northeast Tampa

5,550,103

93.1%

94.0%

0.8%

$13.55

$12.65

-6.6%

Northwest Tampa

9,838,457

93.4%

91.9%

-1.5%

$13.44

$13.52

0.5%

Pasco County

11,218,896

88.2%

88.7%

0.6%

$13.42

$13.60

1.4%

South Pinellas

7,290,578

89.4%

90.4%

1.0%

$14.39

$13.50

-6.2%

South Tampa

1,579,542

91.6%

94.0%

2.4%

$12.09

$17.65

45.9%

St Petersburg CBD

232,801

98.8%

98.8%

0.0%

$11.38

$12.27

7.8%

Tampa CBD

299,734

56.7%

56.7%

0.0%

-

-

-

Westshore

2,431,249

88.2%

88.7%

0.4%

$16.08

$15.46

-3.8%

66,246,152

90.7%

91.2%

0.4%

$13.66

$13.72

0.4%

Bayside
Clearwater CBD

Tampa Market Total

Inventory

Power Center & Shopping Center Market Statistics From CoStar Property

Tampa now has seen three straight
years of increases in occupancy.
The pressure on rental rates should
subside as the development pipeline
begins to fill.

2016 TAMPA PULSE // 29

$12.32

7.8%