Market Pulse

3rd Quarter | 2022

In the Headlines

Q3 Average Market Rates

Office

$26.89

4.0%

Market Rent Growth (YOY)

Industrial

$10.44

16.7%

Market Rent Growth (YOY)

Retail

$23.14

9.3%

Market Rent Growth (YOY)

Tampa Bay 3rd Quarter Total Market Statistics

Market Existing Inventory Net Absorption Deliveries Under Construction SF Quoted Rates
Total RBA
(Retail: GLA)
Vacancy %
Office 127,753,919 9.0% -24,414 58,823 543,749 $26.89
Industrial 208,691,631 2.99% 1,745,198 2,728,924 5,444,446 $10.44
Retail 172,570,208 3.26% 278,819 275,160 856,648 $23.14

News & Updates | Q3 2022

Over 275,000 SF and 3.2 AC in New Accounts

Ciminelli's New 3rd Quarter Accounts

News from Buffalo, NY - Ciminelli Real Estate Corporation

Boston Acquisition

Ciminelli Real Estate Corporation’s Investments team in Buffalo & Boston recently completed the purchase of another office building in the Greater Boston area at 880 Technology Park Drive.  The 151,564 square foot building marks CREC’s tenth acquisition in the Boston market.  Plans are underway within the 829,788 square foot portfolio to reposition these buildings to better meet the demand for highly sought-after research and development space.

Ciminelli Florida Spotlight

EmpowerED

Hillsborough Education Foundation

Ciminelli Real Estate Services was once again a proud sponsor of the Hillsborough Education Foundation (HEF) EmpowerED luncheon this year. "We are honored to continue to support this amazing organization for over a decade. This one event successfully raised over $145K for our students and teachers with the highest needs in Hillsborough County. Our children are our future and HEF is a catalyst in providing the necessary tools to succeed.  I am currently the Chair of the Advancement Committee and have seen this organization soar the past few years as their mission continues to be strongly supported by the community." - Heather List, Ciminelli Real Estate Services Business Development Manager