Retail availability in Tampa has hovered at all-time lows for the past two years, but national-level bankruptcies and store closures brought new space to the market. While these new spaces have slightly increased the market’s availability rate, market participants believe they have created opportunities for landlords and prospective tenants. Nevertheless, the region’s availability rate has been below 4% since 2022, and high-quality 4 & 5 Star centers have maintained a sub-3 % availability rate over the past two years.
On the landlord’s side, many of these bankruptcies offer an opportunity to improve the quality of the tenant base and raise rents to market levels. Tampa has been a leader in the US for retail rent growth, with rents increasing 31.3% over the past five years to a market average of $27.00/SF on a triple-net basis.
For tenants, retail space on desirable corridors has been difficult to find over the past several years. Prior to 2025, most of Tampa’s largest retail leases, over 20,000 SF, were build-to-suits. As new spaces have come to market, Tampa has seen the highest number of retail leases over 20,000 SF in years. Vacant spaces in existing buildings offer prospective tenants the opportunity to lease and enter or expand into the market more quickly, with the right specifications, such as drive-thru and modern build-outs.
The current pipeline will do little to satisfy tenant demand, as only 820,000 SF is under construction, and a considerable portion of that is build-to-suit. While new ground-up retail development is rare, several redevelopments are in the early stages, with retail components expected to break ground in the coming years.
The market is expected to remain supply-constrained over the near term, with availability rates to hover near historic lows. While national-level bankruptcies have created new opportunities in the market, many of these tenants had occupied their locations for 5 years or more, and the turnover presents landlords with an opportunity to reset rents to current market levels. Rent growth is projected to continue at a steady pace of 3% to 4% annually, supported by strong demand and a growing consumer base. Despite broader economic uncertainties, Tampa’s retail sector remains well-positioned to deliver stable performance, underpinned by minimal new development
You can view our commercial properties in Florida to see what real estate assets are available for lease/sale.
Tampa Retail Real Estate Statistic Highlights Q1 2026*
12 Mo Deliveries in SF: 861K
12 Mo Net Absorption in SF: -292K
Vacancy Rate: 3.8%
Market Asking Rent Growth: 1.7%
Tampa Retail Real Estate Sales Statistics Q1 2026*
Sales Comparables: 762
Average Cap Rate: 6.4%
Average Price / SF: $285
Average Vacancy at Sale: 3.4%
Significant Retail Commercial Real Estate Sales Tampa Q1 2026*
Below are the top retail real estate sales inked in Tampa during the last 12 months.
1) The Shops At Big Bend (7064 Waterset Blvd)
Rating: 4*
Year Built: 2024
Building SF: 53,119
Vacancy: 0%
Sale Date: 12/5/2025
Price: $25,982,937
Price/SF: $489
2) Disston Plaza (3501-3739 49th St N)
Rating: 3*
Year Built: 1954
Building SF: 114,132
Vacancy: 9.2%
Sale Date: 7/29/2025
Price: $24,154,452
Price/SF: $212
3) New Tampa Center (19010-19064 Bruce B Downs)
Rating: 3*
Year Built: 1996
Building SF: 93,666
Vacancy: 0%
Sale Date: 8/1/2025
Price: $23,941,354
Price/SF: $256
4) Lowe’s (12901 N Dale Mabry Hwy)
Rating: 3*
Year Built: 2005
Building SF: 167,000
Vacancy: 0%
Sale Date: 1/23/2026
Price: $22,826,100
Price/SF: $137
5) 27001 US Highway 19 N
Rating: 3*
Year Built: 1976
Building SF: 178,612
Vacancy: 0%
Sale Date: 12/4/2025
Price: $20,475,515
Price/SF: $115
6) Mango Plaza (11720-11782 E Dr Martin…)
Rating: 3*
Year Built: 1986
Building SF: 166,465
Vacancy: 6.5%
Sale Date: 7/30/2024
Price: $20,300,000
Price/SF: $122
7) Tampa Bay Center (2915 N Dale Mabry Hwy)
Rating: 3*
Year Built: 1972
Building SF: 103,368
Vacancy: 0%
Sale Date: 12/22/2025
Price: $18,845,026
Price/SF: $182
8) Publix (32265 Overpass Rd)
Rating: 4*
Year Built: 2024
Building SF: 59,657
Vacancy: 0%
Sale Date: 11/21/2025
Price: $17,500,000
Price/SF: $293
9) Courtyard at Countryside (2514 State Road 580)
Rating: 4*
Year Built: 2006
Building SF: 89,260
Vacancy: 0%
Sale Date: 9/12/2025
Price: $17,101,353
Price/SF: $192
10) Port Richey Honda (8442 US Highway 19)
Rating: 3*
Year Built: 2005
Building SF: 48,000
Vacancy: 0%
Sale Date: 5/20/2025
Price: $15,500,000
Price/SF: $323
Significant Retail Commercial Real Estate Leases Tampa Q1 2026*
Below are the top retail real estate leases signed in Tampa during the last 12 months.
1) Countryside Mall
Leased SF: 138,000
Quarter: Q2 25
Tenant: Target
Tenant Rep: Not Listed
Leasing Rep: Not Listed
2) Home Depot
Leased SF: 107,514
Quarter: Q1 26
Tenant: The Home Depot
Tenant Rep: Not Listed
Leasing Rep: Edgewood Properties
3) BJs
Leased SF: 106,371
Quarter: Q1 26
Tenant: BJ’s Wholesale Club
Tenant Rep: Not Listed
Leasing Rep: Edgewood Properties
4) Home Depot
Leased SF: 105,000
Quarter: Q2 25
Tenant: The Home Depot
Tenant Rep: Not Listed
Leasing Rep: Colliers
5) Drew 19 Shopping Center
Leased SF: 56,600
Quarter: Q2 2025
Tenant: Not Listed
Tenant Rep: Colliers
Leasing Rep: Colliers
Significant Retail Commercial Real Estate Construction Projects Tampa Q1 2026
Properties Under Construction: 65
Total Square Feet Under Construction: 823,550
Percentage of Inventory: 0.5%
Preleased: 81.0%
1) City Furniture (25857 Sierra Center Blvd)
Rating: 4*
Start: Jan 2026
Completion: March 2027
Building SF: 144,372
Developer / Owner: Miller Construction / Sierra Properties
2) Wolf Creek Commons (000 19th Ave Ne)
Rating: 3*
Start: Jul 2025
Completion: Jul 2026
Building SF: 62,025
Developer / Owner: –
3) Wesley Chapel Station (1410 Bruce B Downs Blvd)
Rating: 3*
Start: Jan 2026
Completion: Dec 2026
Building SF: 50,443
Developer / Owner: SJC Ventures / SJC Ventures
4) 3101 22nd Ave N
Rating: 3*
Start: Jan 2025
Completion: June 2027
Building SF: 42,500
Developer / Owner: –
5) Wesley Chapel Station (Bruce B Downs Blvd)
Rating: 4*
Start: Jan 2026
Completion: Dec 2026
Building SF: 40,000
Developer / Owner: – SJC Ventures / SJC Ventures
Take a look at our featured Tampa office real estate spaces, or other Tampa commercial real estate properties here, or contact the Bounat team to start your own search for properties in the area.
* Data is courtesy of CoStar Group Inc.