1st Inside this issue Quarter 2019 | Volume 25, Issue 97 2019 Real Estate Factors 1 2019 Real Estate Factors “Inside the Dog Pound” 2 A number of factors are in play to impact our real estate world and particu- New Listings 3, 4, 5, 6 larly the world of housing: 7, 8 SOLD 1. The Economy and Interest Rates It appears the Federal Reserve may be content that the Tax Cut Act Pinnacle Awards, Tribute 9 is enough and the economy is stable without any additional rate hikes; certainly good news for homebuilders and their prospective New and Improved Roads 10 buyers. Cowboy Wisdom Development on the go! 11, 12 2. Politics and the Run to 2020 Presidency Housing, 13, 14, 15, The trade wars and tariff changes have had an impact and the more 16 development-friendly rules changes on regulations have been a wel- come factor. Market Overview 17 Residential Expansion 18 3. Demographics The “Baby Boomers” who have been unpredictable, continue to be different than those older than them; they don’t all plan to retire and Team Dirt Dog when they do, it may not mean a home in Florida or Arizona. The other large group, the “Millennials”, have been slow to move out of their parents homes, slow to consider buying a home, and much more urban in their locational choices. Bill Eshenbaugh, ALC,CCIM Licensed Real Estate Broker Florida President/Broker 4. Affordability of Housing 813-287-8787 Ext.1 Cell 727-410-9595 Costs have gone up in all areas from land prices, impact and permit- [email protected] ting fees, labor, construction costs, materials, and tariffs and have Ryan Sampson, ALC, CCIM Principal /Broker all made housing much more expensive. 813-287-8787 Ext. 4 Cell 813-417-5928 [email protected] 5. Online-shopping and logistics Chris Bowers, CCIM The availability to order and have almost instant delivery has dra- Broker-Associate matically changed retail habits and tremendously increased the 813-287-8787 Ext. 8 Cell 813-468-9292 [email protected] need for distribution, fulfillment, and last-mile delivery. Jack Koehler, CCIM All of the above factors make it a continuing and challenging time to build Broker-Associate 813-287-8787 Ext. 9 Cell 813-541-4156 homes but the economy of the Tampa MSA has really strong tailwinds with [email protected] job formations. Some data firms report that about 125 people a day move Michael Strahan, ALC Masters -Agribusiness Broker-Associate to the Tampa Bay region, that finally wages are rising here, and consumers 813-287-8787 Ext. 5 Cell 850-585-8280 have confidence in our region. We’ve seen the investment market buy hotel [email protected] and apartment developments at a rapid pace and at high numbers. Auto Kristina Chutz 813-287-8787 Ext. 2 dealerships are selling and consolidating. Luxury car dealers are headed to [email protected] Pasco County as Mercedes Benz, Lexus and Audi have had great success Catherine Ruiz 813-287-8787 Ext. 7 in the upper end marketplace. These factors bode well for a continued [email protected] good real estate cycle throughout 2019. 1 Inside the “Dog Pound” From left to right: Jack Koehler, Michael Strahan, Chris Bowers, Bill Eshenbaugh and Ryan Sampson Both Bill Eshenbaugh and Ryan Sampson were recognized by the National Realtors Land Institute (RLI) as Top 20 Na- tional Commercial Land brokers in the 2018 Apex Awards. This marks the second year in a row for Top 20 National ranking. Eshenbaugh Land Company ranked 17th in the Tampa Bay Business Journal list of the Top 25 Broker firms for our sales of $110,000,000 in 2018. March was a great month with the sale of a multi-family site on Rocky Point for $7,800,000 and the sale of 20 acres office/medical at SR 54 and Sunlake Blvd for $10,000,000, a single home development site in Plant City, and an apartment site in Manatee County for $2,665,000. 2 New Listings 45.5± acres Agricultural Land on Covington Rd., Dade City https://buildout.com/website/382059-sale 12.2± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/234369-sale 6.3± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/234369-sale 21± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/392482-sale 2.53± acres Residential Land on Van Dyke Rd., Lutz https://buildout.com/website/408951-sale 15± acres Planned Development Land on 36th Ave. E., Palmetto https://buildout.com/website/403664-sale 60± acres Agricultural Land on CR 101, Oxford https://buildout.com/website/397657-sale 3.14± acres Commercial Land on SR 56, Wesley Chapel https://buildout.com/website/378886-sale 10± acres Agricultural Rural Land on Timmons Loop, Thonotosassa https://buildout.com/website/408328-sale 4.71± acres Commercial Land on Dayflower Blvd., Wesley Chapel https://buildout.com/website/118531-sale 2.03± acres Agricultural/Single Family Land on Highview Rd., Seffner https://buildout.com/website/166646-sale .62± acres Planned Development Land on Carmen St., Tampa https://buildout.com/website/402429-sale 2.52± acres (3 Parcels ) Planned Development on Race Track Rd., Tampa https://buildout.com/website/274659-sale 83.47± acres Agricultural Land on Browning Rd., Lithia https://buildout.com/website/445991-sale 3.24± acres Commercial Land on US Hwy 41, Apollo Beach https://buildout.com/website/451732-sale 11± acres Manufacturing Land on Big Bend Rd., Gibsonton https://buildout.com/website/449149-sale 3 New Listings 45.5± acres on 36607 Covington Rd., 12.2± acres on 5240 Moccasin Wallow Rd., Dade City Palmetto Zoned AG Zoned Commercial Asking $749,000 Asking $2,125,728 6.3± acres on 5240 Moccasin Wallow Rd., 21± acres on 5240 Moccasin Wallow Rd., Palmetto Palmetto Zoned Commercial Zoned Commercial Asking $5,945,940 Asking $1,372,140 2.53± acres 3164 Van Dyke Rd., 15± acres on 2803 36th Ave. E., Lutz Palmetto Zoned Residential Zoned Planned Development Asking $150,000 Asking $2,312,000 4 New Listings 60± acres on 13334 CR 101, 3.14± acres on 27186 SR 56, Oxford Wesley Chapel Zoned AG Zoned Commercial Asking $1,250,000 Asking $1,000,000 10± acres on 9803 Timmons Loop, 4.71± acres on 5639 Dayflower Blvd., Thonotosassa Wesley Chapel Zoned AR Zoned Commercial Asking $1,695,000 Asking $300,000 2.03± acres on 3938 Highview Rd., .62± acres on 1324 W. Carmen St., Seffner Tampa Zoned ASC-1 Zoned Planned Development Asking $1,900,000 Asking $1,300,000 5 New Listings .50± acres on 12898 Race Track Rd., 1.11± acres on 12898 Race Track Rd., Tampa Tampa Zoned PD Zoned PD Asking $750,000 Asking $1,950,000 .91± acres on 12898 Race Track Rd., 83.47± acres on 11963 Browning Rd., Tampa Lithia Zoned PD Zoned AR Asking $1,800,000 Asking $925,000 11± acres on 6408 Big Bend Rd., 3.24± acres on 5309 N US Hwy 41, Gibsonton Ruskin Zoned Manufacturing Zoned CG Asking $2,750,000 Asking $1,700,000 6 SOLD 22.4± acres on Shell Point Rd., 2± acres on 11704 Hwy 301, 5.35± acres on 11706 Hwy 301, Ruskin Thonotosassa Thonotosassa Use - 76 Single-family lots Use - Business Park Use - Storage yard SOLD $1,150,000 SOLD $350,000 SOLD $75,000 .08± acres on 16164 Countyline Rd., 155± acres ON SW corner Hwy 301 and Spring Hill Crosstown, Tampa Use- Retail development Use - Mixed-use SOLD $776,000 SOLD Eshenbaugh acted as consultant 13.3± acres on Brandon Town .86± acres on US 19, 254± acres on 49th St. E., Center Dr., Brandon Hudson Palmetto Use - 225 Apts Use - Use - Residential Development SOLD $4,500,000 SOLD $60,000 SOLD $3,855,000 7 SOLD 10± acres on Wilder Rd., 3.08± acres on 3015 Rocky 20± acres on SR 54 & Sunlake, Plant City Point Dr., Tampa Lutz Use - Single-family dev Use- Apartments Use - MPUD SOLD $475,000 SOLD $7,800,000 SOLD $10,400,000 14.96± acres on 5111 Oxford Rd., 4.93± acres on 9381 N. 16th St., Parrish St. Petersburg Use- Apartments Use- Industrial SOLD $2.665,191.71 SOLD $2,800,000 Eshenbaugh Land Company would like to thank all of our clients, owners and buyers who have made our success in sales possible. Thank you 8 Pinnacle Awards The annual awards for sales production recognized Bill Eshenbaugh, ALC,CCIM as #1 Top Producer and Ryan Sampson, ALC, CCIM as the #2 Top Producer for 2018 in the Regional Land Broker Category for 200+ member Florida Gulfcoast Commer- cial Association of Realtors. The Land Deal of the Year went to Jack Koehler CCIM and Michael Strahan, MAB for a complicated solar farm sale they made. This award looks at the complexity of the transaction and for exemplary service to the client. A Tribute to President George H. W. Bush We pause to pay tribute to former President George H.W. Bush who passed away last winter. I had the pleasure of meeting him personally on several occa- sions and most of them were not political events. Rest her soul, First Lady Barbara Bush was very involved in “Celebration of Reading”, an annual event in Florida to raise money to promote reading amongst some of our most challenged citizens. My wife, Lynda Keever, who was Publisher of Florida Trend magazine, became very involved in the program as a sponsor and mentor and so we were able to meet with the former President and First Lady as well as Governor Bush through the annual fund raisers.