Pinellas ran out of land and Hillsborough did not
One county is effectively built out and the other still absorbs greenfield, so a single firm is selling redevelopment on one side of the bay and new construction on the other.
Pinellas County is among the most densely developed counties in the state and has close to nothing left to build on. A tenant who needs space in Clearwater, Largo or Pinellas Park is looking at a teardown, a conversion or a backfill, and the deal turns on an existing envelope, a parking count and what the site can realistically be brought up to.
Cross the Howard Frankland and the answer changes. Hillsborough, and Pasco above it, still deliver ground-up product, and a requirement in Riverview, Brandon or Wesley Chapel can be met with a building that does not exist yet.
So the two markets need different material even though the firm is one firm. On the Pinellas side, reuse: what a former retail box will take, what the parking ratio allows, what a roof and a slab of that age mean for a fit-out and what it costs in time. On the Hillsborough side, delivery: sites, timing, what is under construction and when it takes tenants.
Running one story across both is the fastest way to sound like a firm that works one side. An owner in Dunedin reading about new delivery has nothing to do with it, and a developer in Wesley Chapel reading about adaptive reuse has exactly the same problem.