WEST FLORIDA
West Florida’s commercial real estate market displayed a dynamic landscape of opportunities and challenges. Cities like Tampa, St. Petersburg, and Sarasota have been experiencing steady growth in various sectors, such as technology, healthcare, and tourism, contributing to a robust demand for commercial properties. The region’s attractive climate and lifestyle continued to drive interest from investors, leading to the development of new once spaces, retail centers, and mixed-use projects. However, the market also faced considerations like shifting workplace dynamics due to remote work trends and the potential impacts of natural disasters on property values. Local market conditions and economic factors play a pivotal role in shaping the current state of West Florida’s commercial real estate market.
REAL ESTATE MARKET
In the past decade, West Florida’s housing market exhibited consistent growth, showcasing a median home value of $216,000 and a median rent of $1,485. The COVID-19 pandemic intensified competition, resulting in reduced inventory and heightened bidding wars, particularly in Downtown Tampa, Hyde Park, and Sarasota.
TOURISM INDUSTRY
West Florida is a top U.S. tourist destination, with over 100 million annual visitors enjoying iconic attractions like Walt Disney World Resort, Clearwater Beach, and Busch Gardens Tampa Bay,
bolstering the regional economy with $70 billion in revenue and 1.5 million jobs.
HEALTHCARE SECTOR
West Florida’s healthcare sector, including leading institutions like Tampa General Hospital, Sarasota Memorial Hospital, and Lee Health, employs over
200,000 people and has an economic impact of over $23 billion.
EDUCATION SYSTEM
West Florida boasts a strong education system, with institutions like the University of Florida, Florida State University, and the University
of South Florida, contributing over $20 billion annually to the regional economy.
BAY
LANDING
Bay Landing enjoys a prime location in Bonita Springs, Florida, as it is conveniently situated on US Highway 41 at a signalized intersection. This strategic positioning makes it easily accessible for both residents and visitors. The property boasts renowned anchor tenants, Fresh Market, and HomeGoods, offering a wide array of high-quality products and services to cater to the diverse needs of its customers. The demographic appeal of Bay Landing is broad, with an affluent customer base extending from the picturesque northern suburbs of Naples to the vibrant communities of southern Fort Myers. This thriving region in Southwest Florida attracts a diverse population, from young families seeking convenience and quality to retirees looking for a comfortable and convenient shopping experience. Bay Landing is a hub of commerce and community in this dynamic state.
27251 BAY LANDING
BONITA SPRINGS, FL
79,879
Population
5 miles
$128,464
Avg Household Income 5 miles
43.67%
College Educated
5 miles
GATEWAY
MARKET CENTER
North of St. Petersburg lies an enticing retail center, conveniently located near US-92, within the vibrant Gateway sub-market known for its growth and Carillon Park’s development. Notably, the lively Echelon City Center thrives within this area. Vibrant with activity, the region witnesses a robust traffc flow of 25,000 vehicles on 9th Street North. This retail hub is a thoughtfully curated mix, boasting renowned retailers like Publix, Beall’s, TJ Maxx, and Petsmart, offering a harmonious selection catering to diverse preferences and tastes.
7751-8229 9TH STREET N
ST. PETERSBURG FL
195,042
Population
5 miles
$83,008
Avg Household Income 5 miles
36.64%
College Educated
5 miles
PEACHLAND
PROMENADE
Enhanced by a modernized facade that captivates with its visual charm and enhanced visibility, this center stands as an appealing destination. With Publix and Planet Fitness as its anchors, the center effectively pulls in foot traffc from the nearby residential neighborhoods. Notably, Port Charlotte boasts Allegiant Air’s recently unveiled Sunseeker Resort, and the forthcoming Murdock Village master planned community further enriches the area’s appeal.
24123 PEACHLAND BOULEVARD
PORT CHARLOTTE, FL
83,455
Population
5 miles
$69,767
Avg Household Income 5 miles
24.17%
College Educated
5 miles
SARASOTA
PAVILION
Strategically situated on Florida’s Gulf Coast in Sarasota, this location enjoys optimal positioning. Notably, it beneffts from impressive traffc counts, with Stickney Point Rd at Tamiami Trail witnessing 29,500 AADT and Tamiami Trail at Stickney Point Rd recording 44,500 AADT. The convenience is further enhanced by signal-controlled access, accessible via either Tamiami Trail or Stickney Point Rd, ensuring easy and effcient entry.
6507 S TAMIAMI TRAIL
SARASOTA, FL
125,089
Population
5 miles
$104,556
Avg Household Income 5 miles
43.08%
College Educated
5 miles
CONTACTS
Contact us for any inquiries regarding leasing opportunities or specific details about properties within our portfolio. Recognizing the importance of collaboration, we place high value on our network of contacts, and we encourage you to reach out to us. Whether you’re seeking more information or wish to schedule a personalized tour, we’re here to assist.
