Submarket Spotlight: Tampa’s Westshore District
July 8, 2015
The Westshore District is making headlines with news of a landmark development opportunity in Tampa Bay’s largest employment center. The Austin Center, a 10.5-acre office complex originally developed in the 1960s, was acquired by an affiliate of Redstone Investments in April, and the company has engaged CBRE to examine redevelopment opportunities. The site has potential to be one of the area’s most high-profile commercial real estate projects and could include a mix of uses such as office, retail, hotel and multifamily. Centrally located along the District’s main Westshore Boulevard, this is one of the best urban infill sites in the Southeast, according to the Tampa Bay Business Journal.
In addition to this large-scale redevelopment project, Westshore currently features nine permit-ready office sites located at the geographic center of the Tampa Bay region. Site plans range from 175,000 to more than 500,000 square feet, and many include mixed-use office, retail, hotel and residential opportunities that will continue to create a vibrant urban experience in Florida’s largest commercial office submarket. The thriving Westshore District is home to several major employers including PwC, Bloomin’ Brands, New York Life, IBM and Florida Blue. Laser Spine Institute is currently building its 176,000-square-foot national headquarters in Westshore, and Fortune 500 Company Bristol-Myers Squibb opened its new North America Capability Center in Westshore last year.
“PwC is delighted to be in the heart of Westshore,” said Mary-Helen Horne, administrative operations leader of PricewaterhouseCooper’s Enterprise Solutions Center. “The area is centrally located for our employees who commute from all over the Tampa Bay region. They enjoy being within walking distance or a quick drive to some of Tampa’s best restaurants and shopping venues. Our close proximity to the airport and world-class hotels has made our Tampa offices a major corporate hub for visitors from PwC offices in the United States and all over the world.”
With an employee population totaling nearly 94,000 and an increasing trend of employees wanting to live near the office, it’s no surprise that more people than ever before are calling Westshore home. Nearly 2,000 residential units have opened since 2009, and more than 1,700 units are currently planned or under construction.
“Westshore is an exceptional part of the City of Tampa,” said Jay Curran, Senior Vice President of Crescent Communities which broke ground in June on a 375-unit luxury residential Westshore community. “In addition to being one of Florida’s top employment centers, Westshore provides fantastic amenities for its residents, including restaurants, shopping, sports and easy access to the major roadways and bridges that take you to other areas in the city.”
Westshore’s transportation network is also getting a big boost with nearly $1 billion being invested in the highway network. In addition, a $1 billion expansion is underway at Tampa International Airport, which is located in Westshore just minutes away from the District’s offices, 35+ hotels, two regional shopping malls, golf course, and more than 250 restaurants.
Interested in discovering more about what Tampa’s Westshore District can offer your company? Contact Steve Morey, Director of Business Recruitment, at email@example.com or 813.518.2630.
– Story contributed by Heather Mackin, Westshore Alliance