We just completed a pricing study for vacant industrial land in Pinellas County near the intersection of I-275 and 22nd Ave North and see slowly declining prices and little inventory for raw industrial land (Specifically land zoned Heavy and Light Industrial, excluding Commercial General).

The demand for Industrial Buildings continues with only minor slowdowns so far and we think this is a seasonal fluctuation, not a trend. The market price for Industrial land is about $375,000 per acre depending on location and condition.

Should these prices drop below $300,000 per acre it may well be a time to buy dirt.

While we will see some short term fluctuations in Industrial property pricing, I expect the general Industrial Property market to remain strong due to the Port of Tampa. If the Port reduces their operations, Industrial property pricing will drop as well.