Apartment deals lead the way

Commercial real estate brokers in the Tampa Bay region have been saying the apartment market is the most active segment of the market. Recent data based on deals for properties and portfolios worth more than $10 million confirms that.

Data compiled by Real Capital Analytics shows that 19 apartment complexes traded hands in the first half of 2011 in the Tampa Bay area, representing $435 million worth of deals. That's nearly half the total commercial real estate deals of more than $10 million in the Tampa Bay area in the first half of the year.

Compared to the first half of 2010, deal volume is up 27% so far this year, totaling $933 million. The 52 properties worth more than $10 million that changed hands in the Tampa Bay area so far this year represents a 136% increase over the same period in 2010.

Besides the apartment deals, in the first half of 2011 in the Tampa Bay area there were 18 retail deals totaling $286 million, 12 office deals totaling $187 million, two hotels worth $15 million and one industrial building worth $11 million. There were no land deals more than $10 million.