Bromley, Highwoods Top Out $83M Tampa Office Tower
A joint venture between The Bromley Cos. and Highwoods Properties has topped out Midtown East, an $83 million, 430,000-square-foot Class A office building in Tampa, Fla. The project is part of the $1 billion Midtown Tampa mixed-use development.
Designed by Rule Joy Trammell + Rubio, Midtown East rises 18 stories—making it the tallest building in Westshore. The developers broke ground in 2022 and completion is expected in 2025.
Seeking LEED, Fitwel and Wired certifications, the development will feature smart energy management systems, outdoor access on every floor, a heat-reflective roof, floor-to-ceiling windows, as well as column-free floor plates.
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Upon reaching completion, Bromley and Highwoods will jointly own five office floors—encompassing 143,000 square feet—and ground-level retail. Other tenants will include Tampa Electric and Peoples Gas., set to own 11 floors—equating to 298,000 square feet— and relocate their headquarters for the first time since 1981.
Located at 1 Midtown Place at the Intersection of Interstate 275 and N. Dale Mabry Highway, the project rises next to Tampa’s first True Food Kitchen, a restaurant backed by Oprah Winfrey and Andrew Weil.
Exploring Midtown Tampa’s office component
Midtown Tampa will include more than 700,000 square feet of office space, 390 multifamily units, 225 hotel keys, as well as 185,000 square feet of retail space. Additionally, a public space, dog park, 3-acre lake and recreational trail will also be available.
The mixed-use development sports a strong office leasing demand, with the existing office space being fully leased. Bromley and Highwoods also owns Midtown West, a 152,000-square-foot office building completed in 2021.
Last year, the joint venture secured a $45 million loan for the property. New York Life Insurance Co. originated the financing. The fully leased property includes tenants such as Nestle, Prudential, Primo Water, Kforce, South State Bank, Kast Construction and Savills.
A recent CommercialEdge report reveals that Tampa had 412,350 square feet of office space under construction as of March 2024, representing 0.5 percent of stock. The metro’s office vacancy rate clocked in at 12.7 percent, decreasing 350 basis points year-over-year.
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