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Commercial Real Estate
Business Observer Friday, May 31, 2019 3 weeks ago

PWC expands, takes entire MetWest III building

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Accounting and consulting firm will occupy all of MetLife's new 10-story office tower
by: Kevin McQuaid Commercial Real Estate Editor

If you’re out looking for available Class A office space in Tampa’s Westshore Business District, better scratch MetWest III off your list.

Consulting and accounting firm PriceWaterhouseCoopers (PwC), which had committed in early 2018 to lease the majority of space in the 10-story building, has exercised an option to take all the remaining available space there.

That’s 250,000 square feet.

And that comes on top of the 250,000 square feet that PwC already occupies in MetWest II, the Metropolitan Life Insurance Co.-developed building that is also part of the 32-acre business park.

PwC, which employs roughly 3,000 in the Tampa for various shared services functions, expects to add at least 350 new workers to its regional operation as part of the expansion.

MetWest III, at 4050 Boy Scout Blvd., is slated for delivery in August.

“They had the right to the entire building, and they notified us officially in early December that they planned to exercise it based on their analysis of what they needed going forward,” says Angela Odell, a senior director at commercial real estate brokerage Cushman & Wakefield who is working on MetWest III and whose firm is overseeing the development for the insurance giant.

A formal lease for the balance of the space in the building was signed earlier this month.

PwC officials could not be reached to discuss the pending expansion.

Initially, PwC committed in early 2018 to occupy 150,000 square feet in MetWest III, on floors one through six and a portion of the seventh floor, through at least 2032.

Soon after MetLife broke ground in March 2018, however, that number bumped up to 167,000 square feet, Odell says.

The move left floors eight, nine and 10 available to tenants, until PwC elected to take those floors down, too, thank you very much.

Businesses hoping to catch the next wave of office development in MetWest also are out of luck: MetWest III will be the final office product delivered there, Odell says.

 

 

 

 

 

 

 

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