As primary coastal submarkets face extreme land scarcity and compressing capitalization (cap) rates, institutional capital is actively migrating to high-growth secondary and tertiary submarkets, such as Estero, Pasco County, and St. Johns County. Driven by rapid suburban residential expansion, these emerging corridors offer investors higher yield potential, lower barriers to entry, and a strong pipeline of master-planned developments that attract national credit tenants seeking to capture shifting consumer populations.