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Commercial Real Estate
Business Observer Friday, Aug. 31, 2018 4 years ago

AAA completes relocation to Renaissance Center in Tampa

Shift involves 750 Auto Group employees
by: Kevin McQuaid Commercial Real Estate Editor

In one of the largest corporate relocations within the Tampa area in the past several years, AAA has moved into new space in the 71-acre Renaissance Center in Westshore.

The Auto Club Group shifted some 750 employees from two nearby locations in Tampa’s suburbs earlier this month to Renaissance VI, at 9125 Henderson Drive.

“We considered where our employees are coming from to get to work, and saw that with the design of this new building we could better collaborate and do business in a new way,” says Matt Nasworthy, a AAA spokesman.

“This location is very central for us, and we were able to build in a lot of elements to our specifications,” he adds. “And the campus here is big, with lots of open space and amenities in it.”

New Jersey-based Vision Properties, which acquired the five-building Renaissance Center for $108 million in early 2016, began the four-story Renaissance VI building in December of that year on a speculative basis.

AAA fully leased the 150,000-square-foot building for a base period of 15 years in April 2017.

The balance of the more than 500,000 square feet of office space in the park is completely leased by Wellcare Health Plans Inc. and Capital One Financial, which developed the park beginning in 1997.

Renaissance Center is considered one of the most highly amenitized properties in the Tampa area. In addition to a full-service cafeteria, the park contains a two-level fitness center; walking trails; basketball, racquetball, volleyball and tennis courts; and a baseball diamond.

With Renaissance VI committed, Vision Properties has begun construction of a seventh building — also on a speculative basis — measuring 150,000 square feet, and plans are in the works for an eight-story Renaissance VIII, which would contain up to 250,000 square feet.

Combined, the latter two buildings are expected to cost more than $120 million to develop.



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