Tampa: Out-of-State Developers Make Plays for Business in Bay Area; Vacancy Rates Remain Manageable Despite Jump in Office Space

Article Abstract:

The Beneficial Corporation bought an almost two hundred acre tract of land south of downtown Tampa, Florida. In 1983 it began construction of its one billion dollar development. Beneficial expects as high as a one-fifth return on its investment. Tampa has a strong future; developers from out-of-state will continue to play a strong role. Office space in downtown Tampa has increased by one-third in five years. The financial center of the city has been an active site of development, with rental rates of twelve to twenty dollars per square foot, and about one- sixth vacancy in Westshore. Developers think the attention of the 1984 Super Bowl will be helpful to business. Citicorp Travelers Checks has recently put its headquarters in Tampa. St. Petersburg will have a new pair of office towers. Tampa's utilities are overburdened and crime is high.

Florida, Offices

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1984: Industry Leaders Predict Plenty of Money, Strong Office Leasing, Bolstered Retail Sector Foreseen

Article Abstract:

1984 should be a positive year for real estate in the United States because of a great money supply from diversified sources, strong leasing action, and competition in the syndication business. Office market strength is expected to strengthen the retail market. Foreign investments may be somewhat altered in form, but are expected to continue to have substantial impact on United States real estate. Pension funds, except under intolerable price conditions, are anticipated to continue to have a strong role in real estate. Computerized inventory systems have revolutionized the industrial market. Experts anticipate that real estate taxation laws may be changed, in the bottom half of 1985. Several experts' outlooks on the near future for the industry are featured.

Computers, Economic aspects, Laws, regulations and rules, Digital computers, Prices and rates, Compensation and benefits, Industrial development, Industrialization, Syndicates (Finance)

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