Tampa Electric, Peoples Gas to Relocate Tampa HQ

Midtown East. Rendering courtesy of Bromley Cos.

Tampa Electric and Peoples Gas have announced plans to establish their new Tampa headquarters at the upcoming Midtown East office building, which is part of the Midtown Tampa mixed-use development in the city’s Westshore submarket.

Developed by a joint venture between The Bromley Cos. and Highwoods Properties Inc., the high-rise building is set to break ground in early 2023, with an estimated 2025 completion date.

Tampa Electric and Peoples Gas are set to own and occupy 298,000 square feet across 11 floors at the property, while the developers will own floors 10 through 15. The new high-rise will also feature ground-floor retail space.

Upon the 2025 lease expiry date, the firms will be relocating their corporate headquarters from TECO Plaza, where both companies have been operating since 1981.

According to the Tampa Bay Times, local companies Primo Water and Kforce have also relocated their primary offices from downtown Tampa to Midtown Tampa. The companies leased space at Midtown West, another newly completed joint development by Highwoods Properties and The Bromley Cos.

Seeking office resilience

Midtown East terrace. Rendering courtesy of Bromley Cos.

Midtown East will be an energy-efficient and storm-resistant building in a less flood-prone inland location that will allow the firms to serve their customers regardless of weather conditions. With more than 900 active employees, they will become the largest employers in Midtown Tampa.

To span 23 acres, the award-winning Midtown Tampa office campus will encompass 1.8 million square feet of retail, residential, Class A office space, as well as entertainment and hospitality options. The $1 billion Tampa Bay-area development will connect Tampa’s Westshore and downtown districts.

To deliver the array of live-work-play amenities at Midtown Tampa, Bromley Cos. partnered with Concord Hospitality, Crescent Communities, CASTO Southeast Realty and Jeffrey R. Anderson Real Estate, among others.

While other Southern markets posted some of the lowest vacancy rates nationwide, with Miami’s at 12.72 percent, Tampa’s office market vacancy rate stood at 17.2 percent year-to-date, as of October, according to a recent CommercialEdge report.