TAMPA HEIGHTS – Bordered by North Boulevard and Tampa Streets and home to Tampa Armature Works, the scope of The Heights 50 acre, “Live-Work-Play” site, is quite impressive. SoHo Capital principal, Adam Harden discussed the overall development and revealed some particulars on the Heights Union office component.
The mid-rise office tower complex is being developed as a joint venture with Atlanta-based TPA Group and SoHo Capital. Heights Union will anchor the 50 acre development on the eastern edge at Palm Avenue and Tampa Street. Heights Union will provide 300,000sf of office space, 42,000sf of ground floor retail, plus a public linear park that preserves the massive oaks on the property. The welcome addition of a 1,500 vehicle parking garage is intended to ease overall parking demand for the mixed use site.
Construction of the $102 million Heights Union complex is scheduled to begin by year’s end. The Heights Union project team also includes general contractor, DPR, Alfonso Architecture is heading the design, and Cushman & Wakefield is the exclusive leasing consultant.
AxoGen, a publicly traded, regenerative medicine company, has officially signed a 14 year lease that consumes about a quarter of the space. As the first official tenant, AxoGen is expected to move into their new space in the first quarter of 2020.
Heights Union is seen as Class AA office space. The status accounts for commercial real estate’s Class A category in new construction with premium finishes and amenities. Developers view Heights Union as a superior alternative to traditional office space because it is part of an urban environment that affords the office workers and tenants walkable residential and after work dining/entertainment options.
Quality of life and walkability cannot be discounted. It is high on the priority list of a well educated work force. Many companies seeking to recruit the highest caliber employees recognize this and are beginning to seek out developers that offer an array of amenities. Heights Union dovetails perfectly into that scenario as part of the overall vision.
The Heights is well thought out as a development and Heights Union will attract businesses looking for a competitive advantage in recruiting and retaining staff members. Adding the office component to The Heights is important to the success of the overall project because it will bring higher paying jobs to Tampa Heights area and that’s good for all of us!