Market Pulse

1st Quarter | 2021

In the Headlines

Q1 Average Market Rates




from Q4 2020




from Q4 2020




from Q4 2020

Tampa/St. Petersburg 1st Quarter Total Market Statistics

Market Existing Inventory Net Absorption Deliveries Under Construction SF Quoted Rates
Total RBA
(Retail: GLA)
Vacancy %
Office 127,000,000 SF 8.8% -672,000 SF 355,653 SF 1,400,000 SF $25.31
Industrial 202,000,000 SF 4.8% 3,000,000 SF 323,439 SF 1,500,000 SF $8.29
Retail 170,000,000 SF 4.4% 225,000 SF 175,386 SF 498,000 SF $20.02

News & Updates  |  Q1 2021

Over 458,000 SF and 1.14 AC in New Accounts

New 1st Quarter Accounts

News from Buffalo, NY

NexGen Fitness Opens its First New York Location in Buffalo!

Our New York brokerage team is pleased to announce an exciting new tenant in our headquarters building at 50 Fountain Plaza in Buffalo, NY.  The Gronkowski brothers and Gronk Nation have partnered with NexGen Fitness to bring a unique training approach to 50 Fountain Plaza and Buffalo’s Central Business District! NexGen Fitness is an elite personal training studio offering clients true one-on-one training in a private suite, under the supervision and guidance of expert personal trainers. We are very pleased to welcome our new tenants and offer Buffalo a unique approach to fitness! For more on NexGen, visit:

Ciminelli Spotlight

Ciminelli Takes Top Honors as National Producers

The Florida Gulfcoast Commercial Association of Realtors (FGCAR) announced their 2020 Pinnacle Awards recipients honoring FGCAR members for top deals and top production at national and regional levels. We are proud to announce that two members of our Tampa team took top honors for their major achievements.
Thomas Hernandez, SIOR, CCIM took home awards for Multi Million Dollar Producer, Most Number of Transactions, and #2 National Top Producer for Office.
Mary Foley was awarded #3 National Top Producer for Industrial, #3 National Top Producer for Retail, and #3 National Top Producer for General Brokerage.