The dog days of Summer are upon us and in the Tampa Bay area, a mix of institutional acquisitions, retail refits, adaptive reuses, and community-driven developments are shaping the landscape. Here are a few deals we think could be of interest to you:
1. Caffé Paradiso at St. Croix Plaza
4205 S MacDill Ave, Tampa, FL 33611
In March 2025, South Tampa’s beloved Caffé Paradiso quietly changed hands as part of the broader acquisition of an assemblage including St. Croix Plaza by placemaking firm Of Place. Known for their involvement in Water Street Tampa, Of Place is expected to revitalize this neighborhood center with a focus on pedestrian-friendly amenities and local flavor. Of Place paid $7.8 million for the properties, according to Hillsborough County property records.
This deal underscores how community-scale retail continues to attract strategic institutional buyers. Expect enhanced outdoor seating, modernized tenant mixes, and curated experiences for MacDill Ave regulars.
2. Lakeview at Hidden River – Suburban Office
8875 Hidden River Parkway, Tampa, FL 33637
Sold on April 30, 2025 for $7.8 million, this 133,201 SF office building was acquired by Farley White Interests, which now owns over 1.2 million SF in the area. Hillsborough County property records show it sold for $7.8 million, which is significantly less than the price the last time the office building changed hands. Situated in the Hidden River Corporate Park, the property reflects continued institutional confidence in well-located suburban office campuses with strong tenant amenities, albeit at reduced prices.
3. The Village at Causeway – Neighborhood Retail Center
10284 Causeway Blvd, Brandon, FL 33511
Closed on May 15, 2025 for $12.9 million, this fully-leased retail center shows the continued strength of strip retail in high-traffic corridors. Brokered by Marcus & Millichap, the deal saw investor competition for stabilized assets with long-term tenants and solid foot traffic.
Street-level retail continues to perform well in high-traffic areas with either strong pedestrian or vehicle exposure.
4. Central Park Food Hall – Coming Soon to Downtown St. Pete
551 Central Avenue, St. Petersburg, FL 33701
Central Park Food Hall, a long-awaited project from chef and entrepreneur Natalia Levey and her team at Hi Hospitality Group, is finally nearing completion after several delays. Originally slated to open in 2021, the five-story, 27,700-square-foot development is now expected to debut later in 2025. Transforming the historic former Dome Grill site on Central Avenue, the food hall will feature 13 curated food and beverage concepts—including Kojo Wok, The Winfield speakeasy, and a members-only rooftop club. Already generating significant buzz, Central Park Food Hall exemplifies adaptive reuse and experiential retail, and stands as a powerful symbol of how food halls are reshaping urban cores and attracting both community interest and investor attention.
Final Thoughts
Tampa Bay continues to show resilience in the commercial real estate space, especially through community-focused projects and adaptive reuse. Whether it’s a neighborhood retail revival in Brandon or a high-visibility food hall in downtown St. Pete, investor activity remains cautiously optimistic.
Looking to stay ahead of CRE trends or invest in properties with long-term value? Contact Florida ROI today for personalized investment guidance backed by local expertise and proven results.
Frequently Asked Questions
Q: What types of commercial real estate deals were recently completed in Tampa Bay?
A: The latest deals include institutional acquisitions, suburban office purchases, neighborhood retail center sales, and an upcoming food hall development in downtown St. Petersburg.
Q: Who acquired St. Croix Plaza and what are the plans for it?
A: Placemaking firm Of Place acquired the plaza and plans to revitalize it with pedestrian-friendly features and a curated tenant mix, enhancing the local experience on MacDill Ave.
Q: What does the Lakeview at Hidden River sale indicate about the suburban office market?
A: Despite a soft market, the $7.8 million sale to Farley White Interests shows continued institutional confidence in well-located suburban office campuses with strong tenant amenities.
