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Revitalizing Suburbs: The Hub Brings Urban Flair to Tampa Bay Communities
In the late 2010s, as construction cranes dominated the urban skylines of Tampa and St. Petersburg, siblings Courtney Bissett-Hayes and Paul Bissett had a novel idea: Why not bring some city-worthy development to the suburbs?
Inspired by the plans for food halls and dining gardens in The Heights and Water Street Tampa, they saw an opportunity. With millennials entering their 30s and moving to far-flung subdivisions to raise families, the siblings bet on a hybrid form of retail development that blends the cool factor of urban projects with the practicality (and surface parking) of suburban real estate.
"Our theory was that the suburban market would support an urban product, but nobody had done it," Bissett-Hayes told the Tampa Bay Business Journal. "All developers were focused on downtown, very urbanized marketplaces. We just decided that we don’t need to recreate the wheel."
Their brainchild took the form of The Hub at Bexley, a 44,000-square-foot retail village in the master-planned community of Bexley. Some of the storefronts that line the development are familiar names in Tampa and St. Pete: Bella Brava, Taco Bus, and The Blend Coffee and Cocktails are among the tenants in The Hub at Bexley, which opened in 2022. Now, the Bissett siblings, who run Center Connect Development, are gearing up to build their second Hub prototype: The Hub at Lexington, a $24 million project that will bring 40,000 square feet of small-shop space to Wesley Chapel Boulevard near Interstate 75.
Retail development has been scarce in the Tampa Bay region for the better part of 20 years, as consumers swapped big-box stores and open-air shopping centers for the convenience of e-commerce. Roughly 204,000 square feet of retail space is under construction in Pasco County, according to Costar Group Inc., a real estate data firm. That figure represents nearly half of all retail space under construction in the Tampa Bay region, and of that 204,000 square feet, Costar's data shows that 85% of it is already pre-leased.
Curating An 'Internet-Resistant' Experience
Developers have been reluctant to build retail space as shoppers choose e-commerce over in-person purchasing, a trend accelerated by the Covid-19 pandemic. Those who do bet on brick-and-mortar are wagering that they can create what Bissett-Hayes calls an "internet-resistant" experience.
At first glance, it's not a unique approach. Retail developers throughout the U.S. bring the same thought process to every site, whether it's urban storefronts or suburban strip centers. Hair salons, dental offices, and boutique fitness studios have become go-to tenants in properties once dominated by soft goods retailers. What's different about Center Connect's approach is the developers' willingness to work with mom-and-pop tenants who don't have the top-tier credit or business savvy of a national chain.
"I am a hand-holder," Bissett-Hayes said. "I love watching a first-time operator see their vision come to life and then watching their success. It's super rewarding, but it also becomes a curse because you’re too emotionally invested."
Local tenants, Paul Bissett said, help people who live in the surrounding communities connect to The Hub. The siblings say the community vibe they're striving to create doesn't usually happen at national chains or drive-thrus.
"What we have found is that the customers who come here — they like to feel that they have a stake in the project," he said.
Each Hub location is a long-term play for Center Connect, as the developers plan to hold onto the properties versus flipping them to an investor upon completion.
"That’s one of the selling points we have with our tenants," Bissett-Hayes said. "We’re going to manage you in the future."
The Center Connect principals believe the strategy is worth it; The Hub at Bexley has a tenant lineup to rival any urban development, from Thirsty Buffalo Brewing Co. to Bella Brava to Duckweed Liquors, a store that built its brand in downtown Tampa and the Channel district. But Bissett-Hayes says the approach has challenges, too.
"We’re not in the box when you’re a lender or a property seller," she said. "We went under contract at Lexington three years ago, so it takes a really long time for us to get to the finish line, but once we do, we perform."
Real estate is in the siblings' blood: Their father, Will Bissett, and his business partner put together land assemblages that have become some of the biggest developments in the Tampa Bay region, including Fish Hawk and Carillon Park.
A Prototype For The Future
Center Connect has learned that 50,000 square feet is an ideal footprint for The Hub. The Hub at Bexley is 44,000 square feet, and Bissett-Hayes said the developers plan to add a building there. Buildings within The Hub range from 5,000 to 8,200 square feet, and Center Connect helps tenants determine the right-sized storefront for their businesses. Although The Hub at Lexington is 40,000 square feet, Bissett-Hayes said the developers likely wouldn't pursue a site that small in the future.
A critical component of The Hub is a central lawn, where the developer can host events or visitors can gather. Center Connect has used metal trees to provide shade at The Hub at Bexley, and Bissett-Hayes said those have become part of The Hub's brand and will appear at every property going forward.
Bissett-Hayes and her brother are Center Connect's sole employees, though they are looking to hire an event planner and a few other support positions for the Hub properties.
They are targeting sites within master-planned communities in an effort to become a downtown of sorts for those residents. Bay Area Building Solutions, based in Tampa, built The Hub at Bexley and is the general contractor on the Lexington property. C&K Architects and Interiors Inc. of Tampa is the architect behind The Hub.
"They are sort of the captain of the team," Bissett-Hayes said of BABS. "I hate to say it takes a village, but it takes this whole effort from the team."
Word is getting out in the development world, and there may soon be more Hubs in the works.
"We are being approached by landowners who have seen Bexley and are calling, saying, 'We want you to be part of our project,'" Bissett-Hayes said. "These property owners are finding us, so that’s pretty cool."
