WESTSHORE OFFICE MARKET · [email protected]. Joanne LeBlanc CPMC Senior Associate, Office Services. Dir +1 813 871 8535 [email protected] . Colliers International

A DISCUSSION OF THE

WESTSHORE OFFICE MARKET

About UsColliers Tampa Bay – Tenant Rep Team

Mary Clare Codd SIORManaging Director, Office & Industrial ServicesDir +1 813 871 8522 [email protected]

Joanne LeBlanc CPMCSenior Associate, Office ServicesDir +1 813 871 8535 [email protected]

Colliers International | Tampa Bay Florida4830 West Kennedy Boulevard, Suite 300Tampa, FL 33609

Westshore Development ForumA Discussion of the Westshore Office MarketApril 11th, 2017

JACKSONVILLE

Highest rents in each marketColliers Florida

Existing Inventory Asking Rate FS

1,920,202 SF $23.00

TAMPAORLANDO

WEST PALM BEACHExisting Inventory Asking Rate FS

2,732,780 $37.00

FT. LAUDERDALE

MIAMI

Downtown Miami Submarket


5,247,388 $45.00

Lake Mary Submarket


3,927,185 $25.00


4,455,259 $40.00

Westshore Submarket


8,074,441 $33.00

Brickell Submarket


4,969,439 $50.00





10 Year OverviewHow have rents changed?





Recent Office LeasesAmgenNew - Corporate Center 1

125,000 SF

AloricaExpansion/Renewal – President’s Plaza II

56,564 SF

Progressive InsuranceExpansion/Renewal – Westshore Center

55,107 SF

TribridgeExpansion/Renewal – Urban Center One

44,557 SF

Lennar HomesExpansion/Renewal – Westshore Square

32,171 SF

World TriathlonNew – Island Center

30,789 SF

CCHExpansion/Renewal – Corporate Center III

25,000 SF

American ExpressExpansion/Renewal – Cypress Center

15,860 SF









3,000-5,000 SF users are the most abundant.

Since demand is high, timing is critical.

Make sure you know you your renewal options so you don’t lose your space.

Small space is still in demand!





Recent Sales5104 Eisenhower Blvd. $31,400,000

2203 N. Lois Ave. $28,250,000

International PlazaPart of a 42 property, 7 state portfolio, $3,533,742,000 total sales price

$3,533,742,000

4805 Woodland Corporate Blvd. $5,417,296

4805 Woodland Corporate Blvd.





Future DevelopmentsNew product in the Westshore market

Tampa Bay One 700,000 SF

Austin Center 600,000 SF

MetWest III 250,000 SF

Highwoods Bay Center II 208,000 SF

Corporate Center VCost to build $350-$400/SF

180,000 SF

Independence Park 160,000 SF

Cypress Center IV 120,000 SF

Eisenhower II 120,000 SF

There are 8 proposed office developments in the Westshore Submarket totaling approximately 2,338,000 SF





Workplace Trends

How to attract and retain the best

talent





TechnologyRobots are taking over!

Swipe In/Swipe Out System

Digital Conference Room

Virtual Receptionist





Healthy EnvironmentSitting is the new smoking

Standing BikesWellness Workstations Sit-to-Stand DesksMary Clare Codd SIORManaging Director, Office & Industrial ServicesDir +1 813 871 8522 [email protected]




Corporate CultureMaking work life more enjoyable

Baseball Day Celebration

Vaco Office Meeting Room

Colliers Tampa Bay “water cooler zone”





Future of the WorkplaceWhy spend money on trendy spaces?

Hiring Retention

Turnover Salaries





Enjoy the run!





Mary Clare Codd, SIOR

30+ years experience

Top 10% of Colliers Brokers nationwide in 2016.

Joanne LeBlanc

5+ years experience

Top 10 producers in Colliers Florida in 2016.

About UsColliers Tampa Bay – Tenant Rep Team





Documents

WESTSHORE OFFICE MARKET · [email protected]. Joanne LeBlanc CPMC Senior Associate, Office Services. Dir +1 813 871 8535 [email protected] . Colliers International