Flurry of office tower sales signifies downtown Tampa’s ‘time has come’

By Ashley Gurbal Kritzer It’s been a banner year for downtown Tampa’s office market.

Three towers have sold — Fifth Third Center sold for $47 million, Tampa City Center fetched $128 million and at the end of November, the Wells Fargo Center traded for $78 million.

Driving those deals is a multifaceted dynamic, investment brokers say. Higher prices and lower returns in bigger cities have created more investor in interest in secondary markets like Tampa, where investors still see potential for upside.

But investors have… Read More

Source:: TBBJ Real Estate

2013 personal income grows throughout Tampa Bay

By Margie Manning County; 2013 personal income; Percent change from 2012

Hernando; $31,422; 1.5 percent

Hillsborough; $40,680; 1.2 percent

Manatee; $42,104; 0.6 percent

Pasco; $32,975; 2.0 percent

Pinellas; $45,574; 1.2 percent

Polk; $34,393; 2.2 percent

Sarasota; $56,661; 0.7 percent

Source: U.S. Bureau of Economic Analysis Read More

Source:: TBBJ Real Estate

Spec mansions: The house always wins

By Ashley Gurbal Kritzer Tampa developer Vincent Cassidy is leading a group that continues to bet on the waterfront luxury home market. The group’s fifth speculative mansion will break ground at 4922 St. Croix Drive in Culbreath Isles.

The Culbreath Isles homes will likely be brought to market around the same time as another of the group’s homes, in the works on Davis Island. The homes will be complete between late 2015 and early 2016. But the properties shouldn’t compete, Cassidy said — a buyer interested in one neighborhood… Read More

Source:: TBBJ Real Estate

Exclusive: Speculative waterfront mansion to rise on Tampa’s Westshore

By Ashley Gurbal Kritzer A new waterfront mansion will rise speculatively in Culbreath Isles on Tampa’s Westshore.

Vincent Cassidy, who has carved out a niche in developing new waterfront luxury homes in Tampa, has closed on 4922 St. Croix Drive for $1.85 million, where he plans to begin construction on a new six-bedroom, 7,000-square-foot home without a buyer in place.

The finished home could be priced at more than $5 million, depending on the market.

The Culbreath Isles deal will be Cassidy’s fifth speculative waterfront… Read More

Source:: TBBJ Real Estate

Harvey Mackay: 3 ways to inspire an attitude of gratitude

By Harvey Mackay Think that you have little to be thankful for this month? Haven’t taken time to think about the blessings you have?

For starters, you can be grateful that you weren’t one of the pilgrims who broke bread together that first Thanksgiving in 1621. I clipped these facts from the Arizona Republic years ago, just to remind myself that even on the toughest days, I have nothing to complain about. Here’s what some of our ancestors encountered to come to America.

They had uprooted themselves from their lives… Read More

Source:: TBBJ Real Estate