With submerged land leases in place and Marina rights, this deepwater protected basin is the most substantial marina opportunity in the City of Tampa or the surrounding areas. Built or unbuilt, there is no other marina that can offer the 13 – 18 acres of marina that can be found at the Westshore Marina District. 12.7 acres of which are already controlled by the developer through two submerged land leases. In addition to the scale of the marina the surrounding mixed use product, waterfront dining and substantial residential development will provide marina operations with a consistent volume of permanent and transient clients. The location previously obtained approved plans for the buildout of over 200 large slips and is grandfathered in for gas dock rights. Adjacent to the basin is the Salty Sol public boat ramp, which is one of Tampa’s most frequented points of water access. The entire seawall surrounding the northern basin was built in 2008 and provides for full utility buidout of the future docks. Ample parking and dockmaster offices can be provided as needed.
Occupancy rates are up 5.3% year over year as of November 2015 and are currently at 73.4% while room rates are up 7.8%. Revenues in hospitality sector are up 13% and in addition to year round local attractions, Tampa will host the Frozen Four NCAA Hockey Championship, the 2017 College Football National Championship and is a finalist for the 2019 or 2020 Super Bowl.
RESIDENTIAL FOR SALE
South Tampa boasts some of the highest income levels in the region with an average household income of $100,422 (over 48% higher than the state average). Approximately 71% of the adult population has attended college or obtained college degrees, while over 73% is employed in a “white collar” position such as management, business, sales, office or professional capacity, which suggests an educated and highly-skilled workforce with strong purchasing power.
Median home prices are up 5.1% in 2016
Florida Association of Realtors indicate 2015 sales and prices of homes increased 20%
Area is expected to see 8.1% growth in households over the next 3 years
Prices are still 21% below the peak
Westshore Marina District is an attractive rental option as Tampa experienced a 7.4% rent growth and 8% revenue growth as of November 2015 (year over year). The Tampa Bay rental market also continues to experience strong demand with an average occupancy of 95.7% as of December 2015, and Westshore Marina District’s submarket is reaching an average occupancy at 96.9%. In the past year, average rent has increased 7.2%.
#8 Market in the U.S. for rent growth in 2015 at 6.9%
#2 Market in the U.S. for absorption and leasing velocity
14:1 Jobs to new units with 38,800 new jobs and 2,831 new units added in 2015
Commercial / Retail
COMMERCIAL / RETAIL
An average household income in the range of $100K or more ranks South Tampa’s market as a highly affluent one. This makes for lucrative business at Westshore Marina District. Combined, Westshore and Gandy Boulevard generate and average daily traffic rate of 67K, not including the traffic generated from the future buying power of 1200+ new residents. Stats:
Prime parcels at town center of 1,500+ unit development
Entitlements for over 230,000 sq. ft of commercial and/or office space.
5.2 acres of land available for commercial and/or office space
Waterfront standalone parcel available with boat-up access
Ample signage space provided on major roads
Future ground floor restaurant and retail opportunities
Westshore Marina District is centrally located within 15 minutes of every major employment center in the Tampa MSA including the Westshore Business District, Tampa International Airport, MacDill Air Force Base, Downtown Tampa, the Gateway Office Market and Carillon Office Park. Combined, these major employment centers make up 28M sq. ft. of office space.
Westshore Business District:
Located 10 minutes north of Westshore Marina District
One of the largest office submarkets in Florida
Tampa’s largest employment center with 13.3M sq. ft. of office space
Several Fortune 500 companies and 93,000 employees
Located 10 minutes east of Westshore Marina District
Features one of the highest concentrations of financial services jobs in the Southeast U.S.
Includes more than 7.1M sq. ft. of office space and 60,000 employees
Downtown St. Petersburg:
Located 25 minutes southwest of Westshore Marina District
Known as a major medical hub, downtown St. Pete features more than 6,200 medical jobs with nationally acclaimed hospitals such as Bayfront Medical Center, All Children’s John Hopkins Hospital and St. Anthony’s Health Care
3M sq. ft. of office space with over 28,000 employees and 2,400 businesses