Originally Published April 3, 2018
Everyone is breaking records and beating goals this year. 2018 will be a big year full of many increases, even after the recent dip in consumer confidence in March, which followed an 18-year high in February. Tampa Bay hotel revenues are setting new high water marks, showing how well tourism is doing. Healthcare companies are expanding and looking for more locations to serve the growing population. Multi-family property investments are on the tip of everyone’s tongues as they look to get in the race. Industrial is now the "darling" of commercial real estate investors and there isn’t one market around the country that’s stalling - Ohio, KC, Charleston, Central Florida, Inland Empire, Dallas, Chicago, Memphis, Atlanta, N Colorado, and the list goes on.
It’s great to see Tampa be included in that list when talking about growth, and it was another accolade to read that Tampa made the list of Top Cities for entrepreneurs! That shows our future has plenty of potential and growth, even through economic corrections. The potential we’ve always seen locally is beginning to get noticed over and over again on a national scale.
Investors in Tampa Bay
If you’re an investor looking for long term and you need to buy something. Tampa Bay is a strong option for long term growth. Our political base is solid, there is no corruption and the transitional areas are prime for redevelopment as our core expands outward due to demand and population increases.
A long-time broker and local real estate leader told me this past week that “this is a watershed moment for Tampa” and that was the best way to put it. I have to give credit to that great man and experienced broker for that quote. Pat Kelly views this change in Tampa’s history as monumental for future growth. I agree with that, considering this next economic cycle will include drivers that Tampa Bay has recently included in the mix and could change the historical trend lines we’re used to seeing locally for the better. That is going to allow us a more diverse base to support the business momentum we’re experiencing.
This isn’t to say that your due diligence should change in how you approach a real estate deal, because even though demand and pace have picked up speed…due diligence timeframes are still critical and should be handled with thorough patience, yet with urgency. Remember, there is a difference between price and value. Buyer Beware…Only Buy If You Have To.
Let Fortress Commercial Real Estate Help
Call Fortress Commercial Real Estate, so we can talk expert advice on where your real estate strategy should be focused in West Central Florida. Fortress CRE adds value to business owners and investors looking to grow through their real estate, office and building needs.
Contact us online, call us at 813.444.3330 or email us at kostas@FortressCRE.com for more sound advice.