Market Pulse

4th Quarter | 2020

In the Headlines

Q4 Average Market Rates




from Q3 2020




from Q3 2020




from Q3 2020

Tampa/St. Petersburg 4th Quarter Total Market Statistics

Market Existing Inventory Net Absorption Deliveries Under Construction SF Quoted Rates
Total RBA
(Retail: GLA)
Vacancy %
Office 125,000,000 SF 8.2% 5,900 SF 340,119 SF 1,600,000 SF $25.52
Industrial 201,000,000 SF 5.2% 2,700,000 SF 368,882 SF 499,000 SF $8.13
Retail 170,000,000 SF 4.3% 542,000 SF 283,440 SF 540,000 SF $19.84

News & Updates  |  Q4 2020

Over 130,000 SF and 8.17 AC in New Accounts

New 4th Quarter Accounts

News from Buffalo, NY

Another Award Winning Development!

Ciminelli Real Estate Corporation’s 201 Ellicott project was recently awarded Best In-Progress Construction Project by Buffalo Spree magazine as part of the publication’s annual Best of Western New York feature. 201 Ellicott was deemed “one of the projects where we overlook the inevitable naysayers and cheer.” We couldn’t agree more, and are thrilled with the award. Buffalo Spree is Western New York’s city and regional magazine, and is dedicated to helping its readers make the most of where they live – a community that continues to strengthen and develop its diverse neighborhoods, cultural attractions, and dining scene.

201 Ellicott is an exciting mixed-use development in Downtown Buffalo’s Central Business District. The project includes 201 affordable apartments and a fresh food market.

Ciminelli Spotlight

Ciminelli Opens New Office in Tallahassee

A Partnership with Principals J.R. Long, CCIM & Stewart Proctor, CCIM

In November 2020, we announced the opening of a Tallahassee office and partnership with two of the area’s prominent commercial real estate veterans, Principals J.R. Long, CCIM and Stewart Proctor, CCIM. Combined they have over 50 years of commercial real estate services experience in the Tallahassee market. The initial introduction to Ciminelli came through their active involvement in CCIM (both are past Panhandle District Presidents).  A relationship with Ciminelli Principals Tom McGeachy and Hunter Swearingen developed, led to collaboration on Tallahassee projects and now a formal commitment of partnering to open a Ciminelli office.
Ciminelli’s presence in Florida continues to grow with offices in Tampa, Clearwater, Orlando, Ft Lauderdale and now Tallahassee.