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Deals & Dealmakers

Bromley Companies Announce 50/50 Joint Venture with Highwoods for Highly Anticipated Midtown East Tower

Bromley Companies, developer of a diversified national portfolio, today announced a fully-financed joint venture with Highwoods Properties, Inc. for the highly anticipated Midtown East tower – the anchor building within the 23-acre Midtown Tampa development. Slated to break ground in Q1 2023, the partners also revealed new details including a focus on sustainable elements throughout the 18-floor, 430,000 square-foot project. 

Upon completion of Midtown East, Bromley and Highwoods will jointly own 134,000 square feet, consisting of five floors of office space (floors 10 through 15) and ground level retail. The rest of Midtown East will serve as the future headquarters of Tampa Electric and Peoples Gas.  

Designed by global architecture firm Rule Joy Trammell + Rubio, the 18-story tower is an exemplar of forward-thinking and innovative design. The Midtown East tower will feature 430,000 square feet of premier, Class A workspace amid Midtown Tampa’s 23-acre district designed to support today’s best and brightest individuals and organizations. The design promises a new workplace experience and features covered terraces providing access to the outdoors and a column-free floor plan. Towering over 200 feet high, Midtown East will be the tallest building in Westshore and will provide unparalleled, 360-degree views of Tampa Bay and beyond. The project will begin construction in Q1 2023 and is expected to be completed by Q1 2025.

“Midtown Tampa continues to push forward the ongoing growth of Tampa’s business appeal and success. We are proud to announce this next chapter in Midtown’s story as a workplace-of-choice with our long-term partner Highwoods” said Nicholas Haines, CEO of Bromley Companies. “Our joint venture will allow us to meet the continued growing appetite top companies have for premier office space in Midtown Tampa, and Midtown East has been conceived with sustainability at the core of our ethos and design.”

Midtown East will feature smart energy management systems, a heat-reflective roof, floor-to-ceiling high-performance glass, high-speed destination elevators and floor plans adaptable across uses and work formats. Sustainability is a core component of Midtown East’s value proposition with LEED, Fitwel and Wired certifications being pursued. The ground level will incorporate retail and restaurant uses. Midtown East will redefine the workplace to attract world-class talent in an environment that promotes connectivity, creativity and wellness.

“We are thrilled to partner with Bromley once-again as we move toward our groundbreaking on Midtown East. Our customers are telling us that their best and brightest are better together and we are committed to creating places that allow this talent to achieve together what they could not apart. We are continually seeing the flight to quality across our portfolio, and this building will be no different as early interest in this opportunity is strong,” said Ted Klinck, President and CEO of Highwoods. 

Midtown Tampa already provides over 220,000 square feet of Class-A office space, 150,000 square feet in Midtown West – co-developed by Bromley and Highwoods Properties, and 70,000 square feet in The Loft – developed by Bromley Companies. Between the two existing buildings, Midtown Tampa office space is 99% leased and home to exceptional organizations such as Prudential, South State Bank, Primo Water Corporation, Randstad, LIV Development, Savills, Kforce, Compass, Gresham Smith and KAST Construction.   

In addition to Midtown East, Midtown West and The Loft, Midtown Tampa includes 185,000 square feet of experiential retail including unique healthy lifestyle and fitness brands, first-to-market restaurants, outdoor and recreation activities, and year-round programmed events. 

Comprised of roughly 22 acres, the $1-billion Midtown Tampa development created a new residential and commercial district within the city of Tampa. The development is master planned for over 700,000 square feet of office space, 390 rental apartments, 225 hotel rooms, and 185,000 square feet of retail space. Midtown Tampa also encompasses a Midtown Commons public space, a dog park and a 3-acre lake and recreational trail open to the public. Within the completely walkable neighborhood, guests, residents and tenants enjoy top national retailers and restaurants including REI, Sephora, Shake Shack, True Foods Kitchen, and Whole Foods, among others.

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