Tampa Bay’s office market posted $98 million in sales volume in Q3 2025 alone, up from $21 million the prior quarter, and leasing activity across the region is running 12 percent above pre-pandemic baselines. Whether you own a Class A building in Westshore, a multi-tenant office park along the suburban corridors, or a single-story professional building in Pasco County, the decisions you make right now will determine what that momentum is worth to you.
TAMBAY Commercial provides full-service office real estate brokerage across Hillsborough, Pinellas, and Pasco counties. Led by Tom Brubaker, a state-certified appraiser with over 35 years of hands-on experience, we bring certified valuation methodology to every office transaction. That means your pricing, lease terms, and investment analysis are built on real numbers, not estimates pulled from a listing platform.
Class A and Multi-Tenant Office Buildings Westshore remains Tampa Bay’s most active office submarket, accounting for more than a third of total leasing activity and posting the strongest absorption numbers the market has seen in years. Owners of Class A and multi-tenant buildings in this corridor are in a favorable position, but only if their pricing reflects current comparable transactions rather than outdated asking rates from similar buildings nearby.
Medical and Professional Office The opening of the Moffitt Speros campus in Land O’Lakes has accelerated demand from physician groups, specialty practices, and healthcare-adjacent businesses looking to plant roots in the northern corridor. Professional office buildings within proximity to major medical anchors are seeing renewed interest from a tenant pool that typically signs longer leases and invests heavily in their build-out. For a detailed look at how we handle office leasing transactions, visit our office space leasing in Tampa Bay page.
Suburban and Single-Story Office Parks Suburban submarkets across Hillsborough, Pinellas, and Pasco continue to offer landlords and sellers a different kind of opportunity. Vacancy in these corridors runs higher than the Westshore core, which means pricing strategy matters more, not less. An accurate read on what the market will actually bear is the difference between a property that moves and one that sits.
Pricing an office building requires more than pulling comparable sales from a database. Building age, floor plate configuration, parking ratios, tenant mix, lease expiration schedules, and capital expenditure history all affect what a qualified buyer will pay. Owners who price from comps alone often leave money on the table or end up chasing the market down after a stale listing.
Tom Brubaker’s state-certified appraisal credentials mean your listing price is defensible from day one. We market your office property across CoStar, LoopNet, and Crexi while simultaneously reaching our network of private investors, 1031 exchange buyers, and owner-users actively seeking Tampa Bay office assets. Owners preparing to sell should also review our seller representation services for a full picture of how we manage the transaction process.
Before any office property goes to market, every seller receives a complimentary broker opinion of value. This positions you to negotiate from a place of strength rather than reacting to offers from buyers who have already done their own due diligence. Explore our broker opinion of value process to understand exactly what that analysis covers.
Tampa Bay’s office leasing market is running 12 percent above pre-pandemic baselines as of Q4 2025, and the region has recorded 18 percent employment growth in office-using sectors over the same period. That demand is not distributed evenly. Westshore accounts for more than a third of all leasing activity and Class A availability there continues to tighten. Suburban submarkets in Pinellas and Pasco are a different story, with vacancy rates that give tenants room to negotiate and landlords real pressure to sharpen their positioning.
For landlords: the strength in Westshore does not automatically translate to your asset. Asking rates that hold in a Class A tower on North Westshore Boulevard do not hold in a 1990s single-story professional building in Carrollwood or a suburban park in Wesley Chapel. We help office landlords determine what their space will realistically lease for, what concessions the current market requires, and how to structure lease terms that protect long-term asset value. Our landlord representation team handles the full process from pricing through execution.
For a detailed breakdown of how tenants are approaching the Tampa Bay office market right now, visit our office space leasing in Tampa Bay page.
Cap rates for Tampa Bay office assets vary sharply depending on building class, tenant credit quality, and remaining lease term. A fully leased Class A building in Westshore trades at a fundamentally different multiple than a partially vacant suburban park in Pasco, and applying the same cap rate across both is one of the most common pricing errors we see from owners who go to market without an advisor.
Our commercial property valuation page details the full methodology. For owners who need a faster preliminary number, our broker opinion of value delivers a defensible assessment in 3 to 5 business days.
The Moffitt Speros Effect The opening of the Moffitt Speros campus in Land O’Lakes has created a ripple of demand from physician groups, specialty practices, and healthcare-adjacent businesses looking for professional office space in the northern corridor. Owners of medical and professional office buildings near this corridor should be evaluating their positioning now.
The Flight to Quality According to JLL’s Q4 2025 Tampa Bay Office Market report, leasing activity in the region is running 12 percent above pre-pandemic baselines with 18 percent growth in office-using employment over the same period. Tenants are migrating toward newer, amenity-rich environments in Westshore and mixed-use developments like Midtown Tampa and Water Street, while older single-use office parks with limited parking are seeing longer vacancy periods and softer renewal terms.
Suburban Divergence Not all suburban office is underperforming. Assets near employment growth corridors in Wesley Chapel, Brandon, and the Gateway area of Pinellas are attracting steady tenant interest. Owners in these submarkets who price accurately and present their properties well are closing transactions. Those who price based on what a neighboring building asked two years ago are not.
Insurance Cost Pressure Florida commercial property insurance costs have increased substantially since 2020 and continue to affect operating expense structures for office landlords across all three counties. Accurate expense modeling is now a baseline requirement for any credible office valuation or lease negotiation.
With over 35 years of experience, TAMBAY Commercial brings a unique edge: every decision is guided by a state-certified appraiser's perspective. Our founder, Tom Brubaker, has served as President of FGCAR and is trusted across the industry for valuation accuracy and negotiation strength. We don't just list properties. We back every recommendation with certified numbers, market comparables, and decades of local insight. Our clients benefit from listings on the most powerful platforms, including CoStar, LoopNet, CREXI, and MLS, along with an established network that opens doors beyond the market. When you work with TAMBAY, you gain a partner committed to clarity, integrity, and measurable results.
Kristin Phillips is an M&A advisor with a disciplined, apprenticeship-driven background that sets her apart in an industry where many learn through costly trial and error. Rather than entering the field untrained, Kristin spent five years as an understudy to Tom Brubaker (an appraiser and broker with more than 35 years of experience), gaining hands-on expertise across mergers and acquisitions and commercial real estate before advising clients independently. Her path into M&A is rooted in entrepreneurship; she previously founded and operated a startup compounding pharmacy, giving her firsthand insight into the realities, risks, and rewards of business ownership. That combination of entrepreneurial experience and rigorous mentorship allows Kristin to approach every transaction with precision, prudence, and a deep respect for the complexity of buying and selling businesses.
At TAMBAY Commercial, we publish market analysis from an appraiser’s perspective, not a broker’s sales pitch. Our Insights cover Tampa Bay office market trends, valuation methodology, and the pricing shifts that affect what your asset is worth right now. Whether you are tracking absorption rates in Westshore, evaluating how the Moffitt Speros corridor is reshaping demand in the northern suburbs, or trying to understand what the flight-to-quality trend means for your building specifically, our content gives you the context to make informed decisions before you commit to a strategy.
Tom’s industry experience and expertise is unsurpassed. With over 30 years experience, he is experienced in all facets of business acquisitions, commercial real estate and market trends. He brings his A-game to the negotiation table and guides you throughout the entire process. If you are looking to buy a new business or sell an existing one, I highly recommend TAMBAY!
I have known Tom and his organization for years. We have worked together on multiple occasions, and everything he does is professional, timely and gets things closed. I would definitely recommend him to anyone looking for a business broker in Florida.
Our buy-side firm has worked on three deals with TAMBAY. Tom and Kristin were a delight to work with each time. Tom brings years of knowledge and experience, but you still get the care and attention you can only get by working with a local team with deep roots in Tampa Bay.
