Market Pulse

4th Quarter | 2019

In the Headlines

Q4 Average Market Rates

Office

$25.67

0%

from Q3 2019

Industrial

$7.60

1.2%

from Q3 2019

Retail

$19.27

-0.1%

from Q3 2019

Tampa/St. Petersburg 4th Quarter Total Market Statistics

Market Existing Inventory Net Absorption Deliveries Under Construction SF Quoted Rates
Total RBA
(Retail: GLA)
Vacancy %
Office 121,886,043 7.4% +916,817 870,900 SF 1,997,706 SF $25.67
Industrial 196,399,802 4.9% +2,525,184 3,062,200 SF 2,651,577 SF $7.60
Retail 169,730,213 4.2% +1,344,900 995,000 SF 586,414 SF $19.27

News & Updates  |  Q4 2019

New Accounts  |  Q4 2019

Ciminelli Welcomes 3 Acres & 873,564 SF in New 4th Quarter Accounts

News from Buffalo, NY

Meet Kyle Ciminelli, our new EVP

In October 2019, our President & CEO, Paul Ciminelli, welcomed his son, Kyle, to the Ciminelli Executive Team based in our Buffalo office.  Kyle returned home to Buffalo after working the last 10 years in Manhattan with global real estate firm Newmark Knight Frank.  As Executive Vice President at Ciminelli, Kyle is charged with increasing our firm’s brokerage presence in the New York, Pennsylvania, Boston, and Ontario, Canada markets.  Kyle has been anticipating and preparing for this opportunity for many years, and brings with him a wealth of knowledge and experience. While Senior Managing Director at Newmark Knight Frank, Kyle gained a reputation as a real estate leader, and was a key contributor in multiple major deals in the New York City area.  No doubt, real estate is in his blood.  Kyle gained his Bachelor’s degree from Fordham University and continued his education at NYU, achieving a Master’s Degree in Real Estate and Finance.  Please join us in welcoming Kyle to our team!

Q4 2019  |  Ciminelli Spotlight

Meet Taylor Britain

Property Manager, Tri-County Business Park

During his two years in management services at Ciminelli Real Estate Services, Taylor assisted in the transitioning-in and management of over 700,000 SF of properties. With his new role as On-Site Property Manager at Tri-County Business Park, he is very excited to tackle his new responsibilities and ensure tenant satisfaction maintains high. In his previous role, Taylor was awarded a BOMA TOBY for one of his medical buildings.

As a proud recipient of IREM's 30 under 30, Taylor has enjoyed his time at Ciminelli and enjoys the range of tasks/responsibilities he gets to participate in. "Ciminelli works in almost every aspect of commercial real estate through a diverse range of clients from owners of one building to institutional funds. We get to see it all."

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