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Tampa Bay Office Market Report Q1 2021
Tampa Bay Economy. The Tampa Bay region had an unemployment rate of 4.2% in February 2021, down thirty basis points (bps) from January 2021 but up 110 basis points from a year ago. The national unemployment rate was 6.2% in February 2021, so the Tampa Bay region...
What is a Letter of intent and Why Are They Useful?
No one wants to waste time and money on a commercial real estate transaction that the parties will never complete. A well-drafted, nonbinding letter of intent (LOI) can be a valuable first step in determining whether there is a deal to be made before too much expense...
What is the Difference between a Triple Net and a Gross Lease?
Understanding the Three Types of Commercial Leases When leasing commercial real estate, you need to be certain that you understand how “rent” is quoted so that you can compare rates between leases. Your decision to enter into a lease without understanding the...
How to Avoid Commercial Real Estate Pitfalls
The best way to avoid mistakes when buying, selling, or leasing commercial real estate is to hire an experienced commercial real estate broker. An experienced broker can save you time and money and will help you obtain the best terms and conditions. Saves Time. Most...
4th Quarter Market Report 2020
Tampa Bay Economy. According to the Bureau of Labor Statistics, the Tampa Bay region had an unemployment rate of 5.7% in November 2020, up from 2.7% in November 2019. The national rate was 6.7% in November 2020, so Tampa Bay appears to once again be fairing slightly...
How is My Office Building Growing When There Has Been No Construction?
Many office tenants that have signed a commercial real estate lease may be familiar with the Building Owners and Managers Association (“BOMA”). BOMA is an international organization comprised primarily of real estate professionals including developers and facilities...
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