bayview pavilion offering memorandum send out 043013 · tampa bay area via roosevelt blvd to us hwy...

OFFERED EXCLUSIVELY BYOFFERED EXCLUSIVELY BY

Echelon Real Estate Services, LLC, is pleasedto offer Bayview Pavilion for Sale.

• This institutional grade Class “A” Office building is located inLargo (Mid Pinellas County) Florida at the highly visibleintersection of Roosevelt Blvd & 49th Street North.

•This project has immediate access to the south entrance of theBayside Bridge which is a major transportation corridor linkingmid to north Pinellas County .

•Bayview Pavilion is 100% leased & offers a single story concreteparking deck of approximately 61,168+/- SF with 196 coveredparking spaces delivering a parking ratio of 4.85 cars per 1,000RSF leased.

• Its outstanding location, diversified tenant roster, institutionalquality construction and efficient floor plate design makesBayview Pavilion an exceptional investment opportunity.

OFFERED EXCLUSIVELY BYOFFERED EXCLUSIVELY BY

Echelon Real Estate Services, LLC235 Third Street South

Suite 300St. Petersburg, FL 33701www.eresproperties.com

Michael S. TalmadgeMichael S. TalmadgeExecutive Vice President

[email protected]

M. Ryan LynchM. Ryan LynchCommercial Associate

[email protected]

OFFERINGOFFERING CONDITIONSCONDITIONS::

Bayview Pavilion is offered on an “as-is, where-is” basis

without any representations or warranties. Investors areencouraged to proactively review all offering materials,including tenant leases and building information, prior tosubmitting a proposal.

All offering materials, including the tenant leases, areavailable. Once a Confidentiality Agreement has beensigned, ERES will provide you full tenant and financialinformation.

There are a number of investment entities who areevaluating this project for purchase. Preference will begiven to those investment offers that reflect the mostcomprehensive underwriting and the fewest due diligencerequirements or other conditions to close.requirements or other conditions to close.

A date for offers will be announced in due course.

We respectfully request that offers for the BayviewPavilion be submitted to our office in the form of a letterof intent outlining all key business terms, including:• Purchase price• Confirmation that the offeror has reviewed all offeringinformation in this memorandum.

• Explanation of due diligence completed to date. • Amount and timing of deposits. • Length of due diligence and closing periods. • Allocation of closing costs between buyer and seller. • Description of the availability and source of both equity and debt funds for the acquisition.

• Explanation of acquisition approval process by pertinent individuals, boards, or committees if selected as buyer.

• Background information on the purchasing entity.

INSTITUTIONAL GRADE CLASS A OFFICE BUILDING - BayviewPavilion was constructed in 1998 & was built and maintainedat a true Class ‘A’ Level .

“A” RATED CREDIT TENANTS“A” RATED CREDIT TENANTS - The building is 100% leased to Matrix Medical, Universal American Mortgage Company & Clarity Services, Inc.

OUTSTANDINGOUTSTANDING LOCATIONLOCATION - Bayview Pavilion is located southof Clearwater’s Bayside Bridge & provides easy access to theTampa Bay Area via Roosevelt Blvd to US HWY 19, 49th St, &Interstate 275. Bayview Pavilion is located within 45 minutesof 85% of all households in the entire Tampa Bay Area.

BAYVIEW PAVILIONBAYVIEW PAVILIONINVESTMENT HIGHLIGHTSINVESTMENT HIGHLIGHTS

Michael S. Talmadge

Licensed Real Estate Broker

727.214.4650

of 85% of all households in the entire Tampa Bay Area.

PROPERTY FACTSPROPERTY FACTS

Net Rentable Area 93,946 RSF Total

Height Three (3) Stories

Year Built 1998

Typical Floor Plate 31,315 RSF

Parking 4.85/1000 RSF Ratio

Address 15550 Lightwave Drive, Clearwater, FL

Total Land Area SF (4.38 Acres)

Occupancy / Leased 100%

MAJOR TENANT SUMMARYMAJOR TENANT SUMMARY

Community Health Network, Inc. (Matrix )

Suite 100 – 20,363 RSF

Universal American Mortgage Company (UAMC)

Suite 150 – 9,257 RSF

Suite 200 -31,723 RSF

40,980 RSF Total

Clarity Services, Inc.

Suite 350 – 32,603 RSF**There is a Lease

Amendment for an 6160 RSF expansion pending

OFFICEOFFICE MARKETMARKET OVERVIEWOVERVIEW::

SUBSTANTIALSUBSTANTIAL OFFICEOFFICE MARKETMARKET -- The Tampa Bay areaoffice market consists of eighteen (18) submarkets totaling141.9 million square feet of rentable space. The Gateway -Bayside office submarket is well located within the greaterTampa/St. Petersburg MSA & is easily accessible through ansubstantial network of highways and surface roads thatallow tenants easy access to this submarket from all pointsin the area.

SUPERIORSUPERIOR ACCESSACCESS TOTO ROADWAYROADWAY INFRASTRUCTUREINFRASTRUCTURE --This great location provides immediate access to Bay AreaBridges. The building adjacent to St. Petersburg/Clearwater

ONEONE OFOF THETHE COUNTRY’SCOUNTRY’S FASTFAST GROWINGGROWING AREASAREAS --The Tampa/St. Petersburg MSA, which has a currentpopulation of 2,785,799 has experienced significantpopulation growth over the last decade. During 2000- 2011, population increased an impressive 16.2% &is projected to increase an additional 5.7% during2011 - 2016.

AREAAREA OVERVIEWOVERVIEW::

BUSTLINGBUSTLING TOURISMTOURISM BOOSTSBOOSTS LOCALLOCAL ECONOMYECONOMY --The Tampa Bay area MSA has long been known as afantastic tourist destination as visitors flock year

BAYVIEW PAVILIONBAYVIEW PAVILIONINVESTMENT HIGHLIGHTSINVESTMENT HIGHLIGHTS

Bridges. The building adjacent to St. Petersburg/ClearwaterAirport, 12 minutes to Tampa International Airport, 15minutes to Downtown Clearwater & north St. Petersburg.

SUBMARKETSUBMARKET OCCUPANCYOCCUPANCY && RENTALRENTAL RATESRATES INCREASEINCREASE ––The Gateway / Bayside Class “A” submarket has had over155,000 RSF of Positive Net Absorption in the last fifteenmonths (88% occupied as of 1Q 2013) which has resulted ina 5.5% Rental Rate increase for the submarket.

fantastic tourist destination as visitors flock yearround to take advantage of its ever enjoyable climate.An estimated 13.9 million visitors traveled to the areain 2010 spending more than $3.2 billion.

TAMPA/STTAMPA/ST.. PETERSBURGPETERSBURG EDUCATIONALEDUCATIONAL HUBHUB -- Thearea is home to numerous leading schools & some ofthe fastest growing universities in the state includingUniversity of South Florida, St. Petersburg College,Eckerd College, Stetson Law School, & the University ofTampa.

Michael S. Talmadge


727.214.4650

BAYVIEW PAVILIONBAYVIEW PAVILIONAERIALAERIAL

Bayview Bayview Pavilion & Pavilion & GarageGarage

Michael S. Talmadge


727.214.4650

N

BAYVIEW PAVILION BAYVIEW PAVILION & PARKING GARAGE& PARKING GARAGE

PROJECT AERIAL WITH MAPPROJECT AERIAL WITH MAP

Michael S. TalmadgeLicensed Real Estate Broker

727.214.4650

N

PROPERTYPROPERTY DESCRIPTIONDESCRIPTION

Bayview Pavilion is a premier office building located in the Gateway Submarket of the Tampa/St Petersburg Office market.This Class ‘A’ Office Building was constructed in 1998. Bayview Pavilion contains 93,946 RSF of rentable area & offers asingle story concrete parking deck of approximately 61,168+/- SF. There are 196 covered parking spaces delivering aparking ratio of 4.85 cars per 1,000 rentable square feet leased. The building has a AAA location and has immediatevisibility from the Bayside Bridge.

ADDRESS 15550 Lightwave Drive, Clearwater, FL

YEAR BUILT 1998. Common Area Renovations completed in 2013.

BAYVIEW PAVILIONBAYVIEW PAVILIONPROPERTY DESCRIPTIONPROPERTY DESCRIPTION

LOCATION & ACCESS Bayview Pavilion is located south of Clearwater’s Bayside Bridge and provides easy access to theTampa Bay area via Roosevelt Blvd to U.S. Highway 19, 49th Street and Interstate 275.

Situated in the heart of Pinellas County, Bayview Pavilion is positioned to enjoy all the benefitsof a central Pinellas County location including easy access from all parts of the Tampa Bay areavia expressways, proximity to both St. Petersburg-Clearwater International & TampaInternational Airports, and nearby executive housing.

SURFACE & GARAGE SURFACE & GARAGE PARKINGPARKING

447 spaces inclusive of an attached single story concrete parking deck of approximately61,168+/- SF. There are 196 covered parking spaces delivering a parking ratio of 4.85 cars per1,000 rentable square feet leased. The parking area is striped, lighted & well landscaped.

Michael S. Talmadge


727.214.4650

CONSTRUCTIONCONSTRUCTION Architectural precast concrete panels with a 3-Story central, glass atrium.

FLOOR PLATES & FLOOR PLATES & NET RENTABLE NET RENTABLE AREA AREA

The floors feature highly efficient nearly square plates with a central core, perimeter columns, &generous window lines. The typical floor plate size is 31,315 RSF. The building delivers 93,946 squarefeet.

CEILING HEIGHTSCEILING HEIGHTS The typical finished heights for the building are 10’ for all floors.

FLOOD ZONE FLOOD ZONE AEAE

Flood Zone AE - Zone AE is an area within the 100 year flood plain FEMA Flood Map Panel Number1251391037C. This area is more commonly referred to as the 100 year flood plain. Per FEMA, it isexpected that there is a 1% annual chance that a flood will occur in Zone AE raising water levels to 9.0feet. In over 15 years, the building has never flooded.


feet. In over 15 years, the building has never flooded.

Finished Floor Elevation is 11 feet.

EVAC ZONE BEVAC ZONE B The Building is located within EVAC Zone B able to withstand Category 2 storm surges of 8’-14’ feet &winds up to 110 mph.

ZONINGZONING Commercial General – City of Largo - Zoning is 1832 (General Office Bldg - multi-story office bldgpredominantly non-professional services.

REAL ESTATE REAL ESTATE TAXESTAXES

In Pinellas County, assessments are based on the January 1st value of a property, with a preliminaryassessment notification to the property owner during the following summer. Property owners mayappeal the preliminary assessment at that time. Final tax notices are forwarded to property owners inOctober and are payable by March 31st of the following year. A discount is available for early taxpayment, with a maximum of 4.0% in November.

Michael S. Talmadge


727.214.4650

BUILDINGBUILDING DESCRIPTIONDESCRIPTION

FOUNDATIONFOUNDATION The foundation is reinforced concrete slab with continuous vapor barrier over compacted fill.

FLOORSFLOORS Concrete covered with marble tile in the lobby, carpet tile in the office areas, ceramic tile in therestrooms & electrostatic, vinyl composite tile in the network operations areas.

ROOFROOF Roof structure is built-up, on rigid insulation over a metal decking.

EXTERIOR WALLSEXTERIOR WALLS Concrete & Glass.

WINDOWSWINDOWS Windows are fixed, insulated tinted glass in metal framing rated to withstand up to 110 mph winds.

RESTROOMS: RESTROOMS:

Two (2) packages Two (2) packages

There are : three (3) men's restroom packages with a total of nine (9) stalls & six (6) urinals + three (3)women's restroom packages with a total of 15 stalls. There are 21 sinks divided between the six (6)


Two (2) packages Two (2) packages per floorper floor

women's restroom packages with a total of 15 stalls. There are 21 sinks divided between the six (6)restroom packages.

ELEVATORSELEVATORS Two (2) Dover 3,500 pound capacity, hydraulic passenger elevators.

SPRINKLERSSPRINKLERS 100% wet sprinkler with central fire alarm system.

ELECTRICELECTRIC

SERVICESERVICE

Multiple panels. Three phase, 277/480 & 120/208.

BACKBACK--UP POWERUP POWER 50KW Kohler back up generator. 350KW Taylor back up generator dedicated to the 3rd Floor.

SECURITY / FIRE / SECURITY / FIRE / LIFE SAFETYLIFE SAFETY

Security & fire alarm systems in place including keyless card system.

HVACHVAC 100% air-conditioned comprised of six (6) roof-top mounted, Trane package unites totaling 260 tons &five (5) supplemental, split system units totaling fifty five (55) tons.

Parking GarageParking Garage + 61,168 SF and 196 Covered Spaces


727.214.4650

BAYVIEW PAVILIONBAYVIEW PAVILIONINTERIOR PHOTOSINTERIOR PHOTOS


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BAYVIEW PAVILIONBAYVIEW PAVILIONFLOOR PLANSFLOOR PLANS


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BAYVIEW PAVILIONBAYVIEW PAVILIONTENANT OVERVIEWTENANT OVERVIEW

CommunityCommunity CareCare HealthHealth Network,Network, IncInc.. (Matrix)(Matrix)SuiteSuite 100100 –– 2020,,363363 RSFRSF

wwwwww..matrixhealthmatrixhealth..netnet

Matrix provides multidisciplinary care managementservices and prospective medical assessment services to anetwork of customers aimed at achieving quality, cost-effective care. Founded in 2000 and headquartered inScottsdale, Arizona, Matrix Medical Network serves over 2million members and was ranked #53 the HealthcareCategory of 2000 Inc’s 500/5000.

UniversalUniversal AmericanAmerican MortgageMortgage CompanyCompany (UAMC)(UAMC)SuiteSuite 150150 && 200200 –– 4040,,980980 RSFRSF

wwwwww..uamcuamc..comcom

Universal American Mortgage Company (UAMC) is part ofLennar Financial Services and specializes in supporting thefinancing needs of Lennar homebuyers. UAMC alsooperates as Universal American Mortgage Company ofCalifornia. UAMC is fully integrated with Lennar and offerscustomers support throughout the entire home buyingprocess by providing financing options through the closing.


727.214.4650

Category of 2000 Inc’s 500/5000. process by providing financing options through the closing.

ClarityClarity Services,Services, IncInc..SuiteSuite 350350 –– 2626,,443443 RSFRSF

66,,160160 RSFRSF PendingPending ExpansionExpansion effectiveeffective 1212//11//13133232,,603603 RSFRSF 33rdrd FloorFloor TotalTotal (Entire(Entire Floor)Floor)

wwwwww..clarityservicesclarityservices..comcom

Clarity Services, Inc. is a consumer reporting agency thatprovides information to lenders and develops efficient andeffective data reporting products to help businesses reducehigh-risk lending. Clarity Services, Inc. was founded in2008 by industry veterans who identified and built uponthe idea of providing a better way to report information forthe alternative financial services market.

The Tampa/Clearwater Class “A’’ office market consistsof twenty submarkets totaling 31.9 million square feet ofrentable space.

The nation has rebounded from the most recent majoreconomic downturn & the Tampa/Clearwater is no different,having stabilized at 86.8% occupancy overall, with Class “A”office space stabilizing at 86.3%. The Tampa/St. Petersburgoffice market is expected to make significant positive gainsin terms of occupancy & rental rate, as a result of 2important statistics - the market has only added 742,000 SFof office space over the last 24 months, representing 0.5%of the total inventory; & the market has experienced587,000 SF of positive net absorption over the last 18months. The minimal deliveries & positive net absorptionhave helped stabilize occupancies & will allow owners tobegin to push rental rate over the near term.

TAMPA/CLEARWATERTAMPA/CLEARWATER OFFICEOFFICE MARKETMARKET

TAMPA / CLEARWATER TAMPA / CLEARWATER OFFICE MARKETOFFICE MARKET

begin to push rental rate over the near term.


727.214.4650

INVENTORYINVENTORY -- From 2004 to 2008, the stock of office space grewfrom 127.1 million SF to 140.5 million SF, representing a 10.5%overall growth. Over the past twenty-four months, the stock ofoffice space in the Tampa/Clearwater office market has onlyincreased by 742,000 SF to 141.9 million SF, representing 0.5%of the total inventory. This minimal growth has helped mitigatethe decline in fundamentals due to the economic downturn &worked to stabilize the Tampa/Clearwater office market.

CONSTRUCTIONCONSTRUCTION -- The Tampa/Clearwater office markethas seen limited construction activity over the last fewyears with annual office deliveries between 0.1% and3.3% of total office inventory. Due to the market’sexponential population growth, land that was once slatedfor future office use was rezoned and developed to meetresidential demand. Since 2004, only 18.4 million squarefeet of office space was delivered, in a market withimproving occupancy statistics, indicating that themajority of new deliveries were for expanding business ornew users rapidly backfilling any vacated space.

Below is a table detailing the current projects under


ABSORPTIONABSORPTION -- From 2004 through 2007, the Tampa/Clearwateroffice market experienced 4 straight years of positive netabsorption which in aggregate totaled 13.2 million SF, or 9.6% ofthe total inventory. The demand for office space was driven bythe above avg. employment growth & the continued growth inoffice related employment sectors. In 2008 & 2009, negativeabsorption totaled 2.5 million SF as a result of the nationaleconomic downturn. However, in 2010 & through the 1Q2013,the Tampa/Clearwater office market has rebounded strongly &seen positive net absorption of 587,000 SF.

Below is a table detailing the current projects underconstruction in the Tampa/Clearwater office market as ofthe first quarter 2013. It is important to note that thereare no office buildings currently under constructiongreater than 88,000 square feet.


727.214.4650

BAYSIDEBAYSIDE -- GATEWAYGATEWAY SUBMARKETSUBMARKET

The Bayside - Gateway submarket is located within PinellasCounty, just west of the Howard Frankland Bridge, whichconnects Tampa and St. Petersburg. With 11.7 millionsquare feet, the Bayside - Gateway submarket contains 8.1%of total inventory in the Tampa/St. Petersburg market. Thismarket is home to numerous national Fortune 500 tenants.After several years of negative net absorption, due to thegreater economic slowdown, the Bayside - Gatewaysubmarket is rebounding strongly with over 155,000 squarefeet of positive net absorption in the last fifteen months.



727.214.4650

feet of positive net absorption in the last fifteen months.

The Bayside – Gateway Class “A” market is comprised of4.1 million square feet & was 88% occupied as of 1Q2013.Occupancy has remained strong over the past six years,outperforming the Tampa/St. Petersburg Class A officesector. Class A rental rates average $20.57/RSF.

COMPETITIVE PROPERTIES FOR LEASECOMPETITIVE PROPERTIES FOR LEASE

Building Name Bayview Pavilion Castille at Carillon

780 Carillon Waterview at Feather Sound

Harbourside 311 Park Place

Building Address

15550 LightwaveDr

400 & 450 Carillon Pkwy

780 Carillon Pkwy

13577 Feather Sound Dr

18167 US HWY 19

311 Park Place Blvd

TAMPA / CLEARWATER TAMPA / CLEARWATER COMPETITIVE PROPERTIES FOR LEASECOMPETITIVE PROPERTIES FOR LEASE

Address Dr Carillon Pkwy Pkwy Sound Dr 19 Blvd

Building Size 93,946 RSF 103,830 RSF 75,385 RSF 80,445 RSF 153,206 RSF 116,723 RSF

% Leased 100% 80% 94.5% 81.9% 85.1% 77.7%

Year Built 1998 1999 1991 1986 1987 2000

Advertised Full Service Gross Lease Rate

$20.00 $22.00 $22.50 $20.00 $20.00 $22.00

Parking Ratio 4.85/1000 RSF 3.8/1000 RSF 4/1000 RSF 4.3/1000 RSF 4/1000 RSF 3.62/1000 RSF


727.214.4650

COMPETITIVE PROPERTIES COMPETITIVE PROPERTIES -- SOLDSOLD

Building Name

Colonial Place I & II

Two HarbourPlace

740-780-800 Carillon

Waterford Plaza –Island Center

Park Place The Pointe

TAMPA / CLEARWATER TAMPA / CLEARWATER COMPETITIVE PROPERTIES COMPETITIVE PROPERTIES –– SOLD SOLD

Name & II Place Carillon Island Center

Address 4350 W Cypress St

302 Knights Run Ave

740-780-800 Carillon Pkwy

7650 Courtney Campbell Cswy &

2701 Rocky Point Dr

83 & 93 Park Place Blvd

2502 Rocky Pointe Drive

Building Size

371,510 RSF 178,000 RSF 312,543 RSF 80,445 RSF 62,933 RSF 252,364 RSF

% Leased 86.8% 95.2% 94% 83% 98% 95.2%

Sold Date February 25, 2013

February 11, 2013

December 19, 2012

November 27, 2012 February 17, 2012

January 11, 2012

Purchase Price

$141.99/RSF

$52,750,000

$179.78/RSF

$32,000,000

$132.78/RSF $41,500,000

$172.79/RSF

$85,500,000

$145.07/RSF

$9,130,000

$195.84/RSF

$46,900,000

Parking Ratio

5/1,000 RSF 5/1,000 RSF 4/1,000 RSF 3.75/1,000 RSF 4/1,000 RSF 3.5/1,000 RSF


727.214.4650

TAMPA/CLEARWATERTAMPA/CLEARWATER MSAMSA OVERVIEWOVERVIEW

Located along Florida’s west coast, Tampa/Clearwater is oneof the fastest growing areas in the United States. The four-county Metropolitan Statistical Area (“MSA”) ofHillsborough, Pinellas, Pasco & Hernando counties has about2.8 million people, making it one of the largest MSA’s in theSoutheast & the 21st-largest in the United States.

Tampa/Clearwater’s population has continued to increase,largely due to economic expansion and the creation of newhigh-paying jobs in diverse industries. Since 1990, Tampa/St

DEMOGRAPHICDEMOGRAPHIC TRENDSTRENDS –– Tampa/Clearwater’s warmclimate, low cost of living, and flourishing businessenvironment, continues to attract residents andcorporations to the region. Since January 2000, thepopulation of Tampa MSA has been increasing at theaverage annual growth rate of 1.4% and is expected toincrease 5.7% to almost 3.0 million by 2016. Themetropolitan area has over 1.1 million households, andthe average household income for the Tampa MSA is inexcess of $60,000 in 2011, further supporting Tampa’sprojected growth.

From 2002 to 2008 Tampa added an average of 12,500

TAMPA / CLEARWATER TAMPA / CLEARWATER DEMOGRAPHICSDEMOGRAPHICS

high-paying jobs in diverse industries. Since 1990, Tampa/StPetersburg’s MSA population has grown over 34.6%. Tampa/StPetersburg also ranks among the best metropolitan areas inthe nation for its low cost of living, which is historicallybelow national average. With no state income tax and it’s lowcost of housing, there’s no shortage of people who want tolive and work in the Tampa/St. Petersburg area.

The region encompasses a physical environment and naturalbeauty that is hard to duplicate. It offers miles of bluewaterways, sugar-white beaches, brilliant sunlit skies and aperfect average annual temperature of 72 degrees.

From 2002 to 2008 Tampa added an average of 12,500new jobs annually for an annual growth rate of 1.0%, animpressive statistic considering most of the country wasin a recession during the same period and reportednegative job growth.

POPULATIONPOPULATION -- The Tampa/Clearwater MSA area – whichhas a current population of 2,785,799 – has experiencedsignificant population growth over the last decade. During2000-2011, population increased an impressive 16.2%percent and is projected to increase an additional 5.7%percent during 2011-2016.


727.214.4650

HOUSEHOLDSHOUSEHOLDS -- The number of households in the Tampa/MSA area is expected to increase from 1,154,754 to 1,218,787resulting in a 5.5% increase during 2011-2016 – by way of comparison, the number of households in the United States isforecasted to grow at 4.0% percent during 2011-2016. This bolsters the proposition that Tampa/MSA is growing fasterthan the rest of the Country. This growth increases demand for office, residential, retail, and leisure property.


ECONOMYECONOMY && EMPLOYMENTEMPLOYMENT -- Boasting one of the most dynamic economies in the country, Tampa is one of the nation’stop ranking cities for expansion and relocation. Strong demographic trends coupled with a well-educated workforceposition Tampa as one of the top choices for corporations seeking a young vibrant city. It’s truly diverse economyattracts corporations from various industries such as tourism, financial services, medical research, and high-techmanufacturing. Recently, Tampa has been named “Mega Market of the Year” by Southern Business & Developmentmagazine, and was ranked among Forbes magazine “Best Place for Business”.


727.214.4650

The Tampa/St Petersburg MSA area has a population over 2.8 million& a gross domestic product of close to $91.7 billion, one of thelargest consumer & retail markets in the country. Job growth ratesare twice the national average & Places Rated Almanac lists Tampa asone of the most livable metropolitan areas in the country.Additionally, there are more than 150 Fortune 500 companies withsubstantial operations in the region, including JP Morgan Chase, GTE,State Farm, Bank of America, IBM & MetLife. Industries such astourism, defense, manufacturing, research, technology, & medical allplay an important role in Tampa’s economic strength & stability.

The Tampa MSA labor force is dominated by high paying service,retail, finance, insurance, & real estate sectors. Bioscience & otherhigh-tech industries are rapidly expanding as well, thanks in part to

Newsweek magazine recently ranked Tampa #10 interms of projected employment gain between 1998 &2025. Over the 5 year period ending December 2008,


retail, finance, insurance, & real estate sectors. Bioscience & otherhigh-tech industries are rapidly expanding as well, thanks in part toresearch at university & college campuses throughout the area.Manufacturing is also experiencing increased growth as the regionaleconomy continues to diversify. Hillsborough County has about630,000 employed people, & planners report the number willincrease significantly by 2015, as the area recovers from currenteconomic downturn. The current labor force for Tampa/ St.Petersburg MSA is comprised of 1.3 million people & currentunemployment rate for MSA currently stands at 10.6% as compared to8.7% for the United States for same period ending May 2011.

terms of projected employment gain between 1998 &2025. Over the 5 year period ending December 2008,this explosive MSA has added nearly 75,000 jobs.


727.214.4650

bayview pavilion offering memorandum send out 043013 · tampa bay area via roosevelt blvd to us hwy...

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