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Commercial Real Estate
Business Observer Friday, Dec. 6, 2019 8 months ago

Midtown Tampa unveils loft office plan

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Stand-alone building will be in addition to three office towers being developed by Highwoods Properties
by: Kevin McQuaid Commercial Real Estate Editor

Midtown Tampa master developer Bromley Cos. has described office space as the “key element” to the success of the 22-acre project located between downtown Tampa and the Westshore Business District.

To that end, three office towers containing 750,000 square feet of space — including a 150,000-square-foot building being developed on a speculative basis that is slated for delivery in early 2021 — have been announced.

But in an effort to provide a diverse array of office space that will meet the needs of a maximum number of users, Bromley late last month unveiled a new, boutique offering.

The Loft a Midtown Plaza will contain 70,000 square feet of loft-style office space in a stand-alone, three-story building that also will feature ground-floor retail space.

Nicholas Haines, Bromley’s CEO, says the new loft space will be targeted to “tenants who may be looking for space outside the more conventional office landscape.”

The Loft will feature 15-foot ceilings, skylights, an outdoor terrace and “state-of-the-art technological capabilities,” according to a Bromley statement.

Loft office space has become increasingly popular in and around Tampa over the past three years.

Elsewhere, Strategic Property Partners is planning loft-style space at Sparkman Wharf, a 245,000-square-foot office and retail complex within Water Street Tampa, the $3 billion neighborhood being built in phases downtown around Amalie Arena and other attractions.

Earlier this year, Bromley unveiled that Highwoods Properties Inc., a Raleigh, N.C.-based real estate investment trust, would develop the office space within Midtown Tampa, which in all is envisioned to contain 1.8 million square feet of office and retail space, hotel rooms and apartments.

Highwoods will not be involved in the development or future ownership of the Loft project, however.

Other Midtown partners include Crescent Communities, Concord Hospitality, Casto Southeast Realty Services and Jeffrey R. Anderson Real Estate Inc.

Although the project has yet to reveal any office tenants, the 1101 N. Dale Mabry Highway project has secured several prominent retailers and restaurants, including REI Co-op, Whole Foods Market, True Food Kitchen, Burtons Grille & Bar and Ponte Group Restaurant. The entire development is slated to be completed in 2021.

 

 

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