Top 5 cities for real estate: Spotlight on Tampa
How new people and new places are creating big momentum for CRE investment.
Topics:
Development and investment opportunities in Tampa
Tampa is famous for its sunny white-sand beaches, but it’s also one of the hottest real estate markets in the country. A major demographic shift is underway as people continue to move to the Sun Belt cities, and that migration represents an opportunity for commercial real estate developers and investors.
Opportunity 1: Student & senior housing
There’s high demand for student housing in Tampa, with local universities seeing a record number of applications and a lack of available housing supply. Graduates and young professionals, searching for new opportunities in the city, are also dealing with a housing shortage. On the opposite end of the spectrum, baby boomers are flocking to the Sun Belt due to its warm climate—as they continue to age, they’ll need greater access to high-quality housing with easily accessible amenities.
Opportunity 2: Revitalizing retail
Despite rumors of its demise, retail is very much alive in Tampa. There’s ample opportunity to acquire and refresh outdated retail sites that are well-located but underdeveloped or lack investment, and mixed-use spaces like Water Street are creating a lot of buzz. Smart Growth America found that while walkable areas like St. Pete account for 1.2% of urban land use, they drive 19.1% of real US GDP… I think there’s plenty of room in Tampa to create replicate St. Pete’s success.
Opportunity 3: Urban warehousing
The necessity for urban warehouses is also on the rise. Locations for “last-mile” delivery solutions and contractor spaces are in strong demand as new residents move in and businesses spring up to support them… and though there are multiple projects already underway to address this need, they may not be enough. If you’re able to acquire a well-located urban warehouse space, I think it will pay dividends in the years to come.
This is by no means a comprehensive list, but these are three areas of investment that I have my eyes on. Fueled by ongoing demographic changes, population growth, and urbanization, the Tampa commercial real estate market is full of potential.
Feel free to shoot me a message on LinkedIn if you want to connect and discuss a new project or opportunity!
- John
Read more:
Tampa, St. Pete rank in the top five for best cities for CRE investment
Tampa: Why Gen Z and Millennial Tourists Are Flocking to This Retirement Mecca
Report Ranking US Metros Shows Walkable Urbanism Pays Dividends
Despite construction boom, I-4 warehouse market may still be underbuilt
This week’s notes from half-court…
In the NBA 2K24 Summer League final, the Cleveland Cavaliers' trio of Isaiah Mobley, Emoni Bates, and Sam Merrill showcased their skill. Mobley was named Summer League championship MVP, while Bates earned second-team All-Summer League honors with consistent scoring.
Merrill proved to be an exceptional shooter, delivering 27 points and four rebounds in the final while shooting 57% overall. His 25 3-pointers in Vegas marked the highest count for any player since 2017. With such talented players on their roster, the Cavaliers are setting themselves up for an exciting season ahead!