by admin | Jan 24, 2017 | Market Data
Vertica Commercial Advisors (VCA), a subsidiary of Tampa based Vertica Partners, has arranged the bulk sale of 252 of 453 units in the Crosswynde condominium community located at 1502 Marsh Cove Court in Tampa, Florida for $28,335,097 ($112,441/unit or $105/sf). The community was a failed…
Source: www.tampabaynewswire.com
Vertica Partners / Vertica Commercial Advisors sold the Crosswynde condominium community in Tampa for more than $28 million.
by admin | Jan 16, 2017 | Market Data
Amazon has 40,000 employees at corporate offices and fulfillment centers in Washington state. Once the company completes its expansion of its Seattle headquarters, Amazon will have more than 30 buildings covering over 10 million square feet in the city’s downtown core.
Source: www.bizjournals.com
Amazon plans to increase its full-time US workforce to more than 280,000 by mid-2018 from 180,000 in 2016. The largest increase of these employees will be in its fulfillment centers across the country in such places as Ruskin, Florida, a Tampa suburb. This will have great benefits locally for housing, apartments and retail.
by admin | Jan 16, 2017 | Market Data
The Manatee-Sarasota region is the only metro area in Florida with faster employment growth in 2016 than in 2015.”Every other community did not achieve that,” said economist Henry “Hank” Fishkind, noting the addition of 9,600 jobs here in November over the previous year.Fishkind, for the 18th straight year presenting an economic forecast Thursday to the Bradenton Area Economic Development Corp., said Manatee’s development efforts, public/private partnerships, and the recent approvals of higher
Source: www.heraldtribune.com
The Manatee-Sarasota region is the only metro area in Florida with faster employment growth in 2016 than in 2015. “Every other community did not achieve that,” said economist Henry “Hank” Fishkind, noting the addition of 9,600 jobs here in November over the previous year.
by admin | Jan 16, 2017 | Market Data
Twenty-five of the nation’s major metropolitan areas are expected to reach population milestones in 2017, based on new estimates by Business First.
Source: www.bizjournals.com
According to a recent study the Tampa-St. Petersburg-Clearwater MSA is expected to increase its population by 37,558 in 2017 to a total of 3,068,511 by Jan. 1, 2018, a 1.2 percent change. This means that the population is growing by more than 100 people per day.
by admin | Jan 16, 2017 | Market Data
Source: sarasotaheraldtribune.fl.newsmemory.com
Construction is completed, underway or planned on projects that will bring more than 4,200 new apartments, condominiums and hotel rooms in and around downtown Sarasota. Over the past 3 years more than $1 billion in projects have been started with more to come. One of the most profound changes has been to the Rosemary District just north of the downtown core along Fruitville Road. The area is undergoing a complete transformation with hotels, condos, retail and apartments.
Vertica Partners and Framework Group have ventured on a 228 unit apartment project currently under construction and scheduled for completion in late 2017.
by admin | Jan 16, 2017 | Market Data
Data on households shows that non-family households have grown at a disproportionately faster rate than family households.
Source: nreionline.com
Despite all of the statistical and demographic data analysis done in the apartment industry it consistently proves out that rents are driven more by economics—job and income growth—than demographics, which still drives occupancy. The demographic shift experienced the last few years, but property markets are still ruled by economics, which may or may not move in step with the demographic changes.
