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Tampa Bay-Lakeland
Business Observer Thursday, May 5, 2011 9 years ago

$10 million-plus deals up 91%

High-priced commercial real estate activity nearly doubled over past year.

TAMPA — The number of deals for commercial properties worth $10 million or more doubled in Tampa over the year that ended Mar. 31. In total, 67 deals involving $1.1 billion worth of properties were completed, according to a report from Real Capital Analytics Inc.

Many of those deals involved apartment properties. Among properties worth $10 million or more, RCA estimates 22 transactions involving $542 million in real estate were completed over the past year.

Three other market segments saw a substantial number of high-value transactions: 17 $10 million-plus office transactions for $232 million in property; 14 industrial deals involving $71 million in property; and 11 hotel sales worth $194 million in aggregate.

In the year prior, just 35 high-value deals were completed, involving $868 million in property. The average property value involved in those transactions was $25 million, compared to $16 million in the most recent year.

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