Tampa Bay Commercial Real Estate Update: 2nd Quarter 2021

Foreclosed commercial real estate properties have not been hitting the market in waves like was predicted during the worst of the pandemic in 2020. Lenders and banks are still trying to work out deals to stave off as many foreclosures as possible.

The best investments in commercial real estate still are industrial properties and multifamily apartment complexes. Industrial investments beat office and retail investments by nearly 50 percent. Apartment investments beat office and retail investments by nearly double the return. (See RCA Price Appreciation chart.)

RCA Appreciation Chart

Job losses in the Tampa Bay area have been minimal when compared to other major metro markets around the country. (See job losses chart.) Unfortunately, income growth here in Tampa still remains far behind those same metro areas. (See wage increases chart.) This means the cost of living keeps going up and things will get more expensive for residents.

Job Losses Chart
Wage Increases Chart

Learn more at Tomlin Commercial.

Written by Nico Hohman

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