At Bounat we work to regularly compile a comprehensive list of the top commercial real estate activity in the region on a quarterly basis.
Tampa’s retail sector has proven largely resilient to the pandemic, with tight retail fundamentals and a generally flat vacancy rate since 20Q1. The market has also shown signs of improvement in 2021 with vacancies falling to just 20 basis points above the all-time low.
Retail starts have pulled back over the past year and there are only about 800,000 SF underway. This year is on track for one of the lowest annual retail delivery totals of the past decade. The Channel District of Downtown Tampa has been a particular hotbed of activity, including the street retail portion of Water Street Tampa completing in 21Q2 with organic grocer GreenWise. There have been multiple apartment complexes to recently deliver and more are underway, spurring retail demand and leading to Downtown Tampa’s first Publix location and a CVS lease signing.
Most of Tampa’s submarkets are still experiencing relatively high retail rent growth with all submarkets outperforming the national average. The weakest rent growth submarkets include areas such as North Pinellas and Westshore. North Pinellas was highly exposed to pandemic impact due to its dependence upon tourism to drive retail demand and Westshore retail depends upon both daytime traffic from its large office nodes, as well as tourism and travel from Tampa International Airport.
You can view our commercial properties in Florida to see what real estate assets are available for lease/sale.
Retail Commercial Real Estate Overview in Tampa
Recent Significant Retail Real Estate Sales in Tampa, Florida
Q1 2022
Crosswynde * 1502 Marsh Cove Ct
Rating: 4*
Year Built: 2001
Building SF: 346,585
Vacancy: 0%
Sale Date: 1/13/2022
Price: $82, 564,888
Price/SF: $238
Pasadena Shopping Center * 6800-6892 Gulfport Blvd S
Rating: 3*
Year Built: 1959
Building SF: 163,746
Vacancy: 2.8%
Sale Date: 7/14/2021
Price: $32,650,000
Price/SF: $199
Valrico Commons * 1901-1999 State Road 60 E
Rating: 3*
Year Built: 1985
Building SF: 138,433
Vacancy: 0%
Sale Date: 8/25/2021
Price: $30,353,858
Price/SF: $219
Tesla Dealership * 11945 N Florida Ave
Rating: 4*
Year Built: 2019
Building SF: 30,160
Vacancy: 0%
Sale Date: 8/20/2021
Price: $27,500,000
Price/SF: $912
Market At Mirada * SR 52 & Clinton Ave
Rating: 3*
Year Built: 2021
Building SF: 60,100
Vacancy: 0%
Sale Date: 12/22/2021
Price: $22,000,000
Price/SF: $366
Belmont Shopping Center * 14323 S US Highway 301
Rating: 3*
Year Built: 2020
Building SF: 56,365
Vacancy: 0%
Sale Date: 6/30/2021
Price: $21,000,000
Price/SF: $373
Summerfield Crossings * 12960 S US Hwy 301 Dr
Rating: 3*
Year Built: 2019
Building SF: 46,528
Vacancy: 0%
Sale Date: 7/19/2021
Price: $19,602,392
Price/SF: $421
30777 US Highway 19 N
Rating: 2*
Year Built: 1992
Building SF: 70,741
Vacancy: 0%
Sale Date: 10/18/2021
Price: $19,300,000
Price/SF: $273
The Shoppes at Avalon * 13455-13485 County Line
Rating: 4*
Year Built: 2009
Building SF: 65,600
Vacancy: 6.4%
Sale Date: 3/1/2022
Price: $17,500,000
Price/SF: $267
Starkey Ranch Publix * 13589 State Road 54
Rating: 4*
Year Built: 2019
Building SF: 45,600
Vacancy: 0%
Sale Date: 12/10/2021
Price: $17,350,000
Price/SF: $380
View the Tampa Industrial Real Estate Market Report Here