Throughout 2025, Tampa’s retail sector was consistently sought after, due to the metro’s population growth and thriving fundamentals. The metro recorded $1 billion in annual sales volume by the end of Q3 2025, second only to Orlando in transactions. 

 

Deals under $5 million remain the most common across Tampa. Over the 12-month period at the end of the third quarter, there were more than 575 deals in this range. However, deals greater than $10 million began to rise throughout 2025. The metro noted 11 trades with these larger deals, compared to four that traded in 2024.  

 

Notable Deals

The largest transaction in 2025 was the exchange of the Summerfield Crossing shopping center located in Riverview. Summerfield Crossing traded as part of a 163-portfolio in March, and sold for a total $29.2 million. The center boasts retailers like Publix, McDonald’s, and QSR tenants, and was 100% leased at the time of the deal. Additionally, the shopping center is working on a Phase Two for development, which will feature a 120,00-square-foot power center and ground lease opportunities. 

 

Together with the trade of Summerfield Crossing, neighborhood and shopping centers remain the leaders of properties sold for more than $10 million. In Q4 2025, the largest deal occurred in Northwest Tampa for the exchange of Buccaneer Square, which boasts ALDI as its anchor. The neighborhood center sold for $12.71 million, or $122.06 per square foot. The property is made up of 104,130 square feet, and sold as part of a 1031 exchange. 

 

So far in Q4 2025, smaller transactions under $5 million have been driven by auto tenants, QSRs and convenience store properties. However, the largest transaction within this range was for a Cracker Barrel in the Eastern Outlying submarket that sold for $3.3 million. The restaurant consists of 10,000 square feet, and boasts a triple-net lease.

 

Pricing Trends

Sales costs have fluctuated across Tampa as the metro records steady and robust sales trends. For investors seeking properties over $10 million, cap rates have ranged around 6% to 7%. One example is the recent trade of Buccaneer Square, which noted a cap rate of 7%. With shopping centers recording the most trades greater than $10 million, these properties have also recorded a sale price per square foot around $120. 

 

On the other hand, deals under $5 million have noted prices averaging over $200, but are dependent on the building’s age and tenant quality. For example, an Arby’s in the Mid-Pinellas submarket traded for $1.6 million in October, with a sale price per square foot of $795.51. The property was built in 1967, and totals 1,961 square feet.

 

Future Expectations

Tampa’s retail sector is well-positioned for continued strength and is expected to remain a top investment market, fueled by steady, employment-driven population growth. Transaction volume is likely to remain robust, with a continuing trend toward larger, institutional deals for essential retail centers. Neighborhood and shopping centers, especially those anchored by grocery tenants like Publix and ALDI, are anticipated to command strong investor interest and maintain sale prices around the current $120 per square foot level. 

 

Smaller transactions under $5 million will also persist, though their pricing will continue to be influenced by asset age and tenant quality. Overall, the market’s strong fundamentals and limited new supply relative to demand suggest a healthy outlook, with the primary drivers being the metro’s expanding consumer base and sustained leasing activity in essential retail categories.