LARGO — Clearwater-based Zeta Management, LLC has purchased the property currently leased by the Sky Zone trampoline park in Largo for $2.85 million.
The Sky Zone at 13000 66th St. N., which was once a thrift store and grocery store before being redeveloped in 2018, will stay at its current location, according to a press release from Colliers International Tampa Bay, which helped sell the 30,000-square-foot retail building.
The seller, BRNK Largo Ulmerton, LLC, originally purchased the building in 2013. The property was a former Kash n’ Karry and thrift store that had been vacant for years, which the seller redeveloped as a trampoline park with a $1.5 million investment.
Colliers International Tampa Bay’s Ronald Schultz, managing director of retail investment services, said the Sky Zone location is representative of the evolving retail market, with trampoline parks and other entertainment concepts filling vacant big box spaces.
“The popularity of entertainment concepts is rising still as malls and shopping centers fight to stay relevant,” said Schultz in a press release. “Consumers want active-experience retail concepts these days.”
Trampoline parks are so popular that the facilities have seen a significant jump in locations over the last seven years, from just 40 parks in 2012, to over 800 parks today.
“Retail investors are looking for large, well-trafficked areas, so we should start to see vacant Toys R Us stores convert to entertainment and fitness centers, catering to the active-experience consumers are looking for,” Schultz said.