Home Newsmakers Companies Colliers Arnold: Sarasota/Bradenton flex and industrial vacancy drops in 2007

Colliers Arnold: Sarasota/Bradenton flex and industrial vacancy drops in 2007

January 31, 2008

The firm's research also showed negative absorption last year The Sarasota/Bradenton metropolitan statistical area’s industrial and flex market ended 2007 with an overall vacancy rate of 5.7 percent, a decrease when compared with the 2006 year-end rate of 7.3 percent, according to research conducted by Colliers Arnold, a Tampa Bay-based commercial real estate firm. That rate was identical in the Tampa Bay market and was 8 percent nationwide. The local market’s industrial and flex space absorption was negative 270,146 square feet in the fourth quarter. Lease rates fluctuated throughout the year but ended 2007 with a $12.68 per square foot triple-net average flex building direct asking rate. This compares to $9.97 for the fourth quarter of 2006. The warehouse building direct asking average was $6.33 triple net, up from $5.72 for the fourth quarter of 2006.

 

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