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Commission extends Colliers lease for Horizon West Bay leasing amid slow market uptake
Summary
The City Commission approved a one-year extension of Colliers International’s representation agreement for Horizon West Bay retail leasing, citing a slow and cautious retail market. Commissioners and Colliers officials discussed leasing progress and obstacles before a 7–0 vote.
The Largo City Commission voted 7–0 on April 1 to extend the city’s landlord-representation agreement with Colliers International Florida LLC for Horizon West Bay retail leasing, giving the broker another year to finish leasing retail and restaurant spaces in the new development.
City staff and Colliers representatives told commissioners the regional retail market remains cautious despite active interest from local operators. Colliers staff described progress — a coffee shop and a fast-casual tenant are signed in adjacent space, a local ice-cream operator had a lease pending, and proposals were under discussion with breweries, restaurants and boutique fitness users — but cautioned that many small or start-up operators face capital constraints or prefer traditional, on-grade parking over structured parking.
"As the project nears completion and we approach the ability to physically deliver spaces, the project is back on the radar of many groups," a Colliers representative said during the presentation. "I think it’s going to at least take us another year to get fully leased out." Commissioners pressed on specifics including whether the city should consider lowering rents or subsidizing tenant build-out; Colliers said it will present strong tenant candidates and that staff is willing to adjust terms if necessary.
Commissioner D’Breeze asked whether a shorter extension — six or nine months — might be appropriate. Colliers said that timeframe risked restarting the selection process and requiring another request-for-proposals; both the Colliers representative and city staff recommended a 12‑month extension. Assistant City Manager Pallett told the commission Colliers reports regular outreach to 60–70 prospective tenants and holds frequent leasing meetings with city staff.
Vote record: motion to approve extension of agreement for landlord representation services between the City of Largo and Colliers International Florida LLC, outcome: approved 7–0.
City staff said the extension does not change the contract rate and that other project milestones — completion of building delivery and utilities — should help shorten tenants’ decision timetables. Staff and Colliers said the city is considering finishing some units to ‘vanilla box’ condition to lower the barrier to entry for national and local operators.
The commission’s action keeps Colliers as the city’s leasing representative for another year. The city will continue to receive regular staff briefings on leasing progress and tenant pipeline activity.
