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 34.8% 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 570,000 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 Q4 2025*
12 Mo Deliveries in SF: 942K
12 Mo Net Absorption in SF: -255K
Vacancy Rate: 3.7%
Market Asking Rent Growth: 3.8%
Tampa Retail Real Estate Sales Statistics Q4 2025*
Sales Comparables: 760
Average Cap Rate: 6.5%
Average Price / SF: $276
Average Vacancy at Sale: 3.4%
Significant Retail Commercial Real Estate Sales Tampa Q3 2025*
Below are the top retail real estate sales inked in Tampa during the last 12 months.
1) Summer Crossing (13120 US Highway 301 S)
Rating: 4*
Year Built: 2009
Building SF: 113,500
Vacancy: 0%
Sale Date: 3/25/2025
Price: $30,273,147
Price/SF: $267
2) The Shops At Big Bend (7064 Waterset Blvd)
Rating: 4*
Year Built: 2024
Building SF: 67,880
Vacancy: 9.2%
Sale Date: 12/5/2025
Price: $25,855,760
Price/SF: $381
3) 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
4) 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
5) 27001 US Highway 19 N
Rating: 3*
Year Built: 1976
Building SF: 174,801
Vacancy: 0%
Sale Date: 12/4/2025
Price:$21,721,789
Price/SF: $124
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 Ov)erpass Rd
Rating: 4*
Year Built: 2024
Building SF: 55,701
Vacancy: 0%
Sale Date: 11/21/2025
Price: $17,500,000
Price/SF: $314
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 Q4 2025*
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: 105,000
Quarter: Q2 25
Tenant: The Home Depot
Tenant Rep: Not Listed
Leasing Rep: Colliers
3) Walmart
Leased SF: 100,000
Quarter: Q1 26
Tenant: Walmart
Tenant Rep: Not Listed
Leasing Rep: Not Listed
4) 16400 State Road 54
Leased SF: 70,305
Quarter: Q1 25
Tenant: The Chapel Church
Tenant Rep: Not Listed
Leasing Rep: ONEIL Commercial Ad…
5) Drew 19 Shopping Center
Leased SF: 56,600
Quarter: Q2 2025
Tenant: EoS Fitness
Tenant Rep: Colliers
Leasing Rep: Colliers
Significant Retail Commercial Real Estate Construction Projects Tampa Q1 2025
Properties Under Construction: 51
Total Square Feet Under Construction: 573,394
Percentage of Inventory: 0.3%
Preleased: 82.1%
1) Wolf Creek Commons (000 19th Ave Ne)
Rating: 3*
Start: Jul 2025
Completion: Jul 2026
Building SF: 62,025
Developer / Owner: –
2) 3101 22nd Ave N
Rating: 3*
Start: Jan 2025
Completion: Jun 2027
Building SF: 42,500
Developer / Owner: –
3) 26946 Halter Loop
Rating: 3*
Start: June 2024
Completion: Dec 2025
Building SF: 40,000
Developer / Owner: Not Listed / Bissett McGrath Properties
4) 1118 Suzanne Dr
Rating: 3*
Start: Oct 2025
Completion: Oct 2026
Building SF: 32,841
Developer / Owner: –
5) Shoppes at Alafia
Rating: 5*
Start: Jan 2025
Completion: Feb 2026
Building SF: 32,115
Developer / Owner: – Not Listed / Ron Scaglione
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.