{"id":1004180064,"date":"2017-07-05T20:11:22","date_gmt":"2017-07-06T04:11:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180064"},"modified":"2025-02-26T02:50:25","modified_gmt":"2025-02-26T10:50:25","slug":"tampa-stays-hot","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tampa-stays-hot\/","title":{"rendered":"Broad-Based Employment Drives Demand in Tampa"},"content":{"rendered":"

By\u00a0Robert Demeter<\/p>\n

\"Tampa<\/a>

Tampa rent evolution, click to enlarge<\/p><\/div>\n

The Tampa-St. Petersburg multifamily market is healthy, displaying solid fundamentals and producing strong rent growth. Robust investor interest and broad employment gains are driving demand across asset classes, with population growth leading to higher occupancy rates and rents.<\/p>\n

The economy is still led by trade and transportation, and with Port Tampa Bay\u2019s newest master-planned project, Vision 2030, the port will continue to create new business, while building upon its existing industries. In 2016 alone, the port had an economic impact of $17.2 billion. Health care is booming and job opportunities in science, technology, engineering and mathematics (STEM) are drawing young professionals to the market. In the first quarter of 2017, professional services firm BlueLine Associates announced the relocation of its headquarters to Tampa, with Alignment Healthcare and American Express Global Business Travel also leasing significant space.<\/p>\n

Investors are attracted to Tampa Bay due to the metro\u2019s strong apartment fundamentals and low entry costs. Last year, a record $2.4 billion worth of multifamily assets traded. More than 9,100 units were under construction as of April, with over half expected to come online this year. Rents rose 3.6 percent to $1,108 year-over-year through April, outpacing the national average, and we expect rent increases to reach 5.8 percent by year-end.<\/p>\n

Read the full Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Robust investor interest and broad employment gains are driving demand across asset classes, with population growth leading to higher multifamily occupancy rates and rents, Yardi Matrix data shows.<\/p>\n","protected":false},"author":59,"featured_media":1004180073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,1612],"tags":[],"class_list":["post-1004180064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-tampa"],"acf":[],"yoast_head":"\nBroad-Based Employment Drives Demand in Tampa - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tampa-stays-hot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Broad-Based Employment Drives Demand in Tampa\" \/>\n<meta property=\"og:description\" content=\"Robust investor interest and broad employment gains are driving demand across asset classes, with population growth leading to higher multifamily occupancy rates and rents, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tampa-stays-hot\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-06T04:11:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T10:50:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Tampa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tampa-stays-hot\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tampa-stays-hot\/\",\"name\":\"Broad-Based Employment Drives Demand in Tampa - 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