The Heights office development moves forward as Atlanta group buys land, secures construction financing
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 23, 2019

The office portion of The Heights in downtown Tampa appears to be moving forward.

TPA Group, the Atlanta developers that plan to partner with Heights master developer SoHo Capital on the office project, has closed on the land and secured a construction loan, according to Hillsborough County property records filed Wednesday.

The office development will be known as Heights Union, and it will total 342,000 square feet - 300,000 square feet of office space and 42,000 square feet of retail.

The developer paid $8.8 million for the land, 2.58 acres on the block of The Heights that's south of West Palm Avenue, north of West Oak Avenue and between North Highland Avenue and North Tampa Street. That's where a 150,051-square-foot building is planned, half of which has been preleased to AxoGen Inc. (NASDAQ: AXGN).

TPA Group has also secured a $60.8 million construction loan from Pinnacle Bank for the project.

Chas Bruck, a partner in SoHo Capital, was not immediately available for comment Wednesday.

AxoGen, based in Alachua, is a medical technology company. It signed a conditional agreement with the developers to lease the office space in September.

Office space is the latest evolution of The Heights, a 50-acre mixed-use project on the northern end of downtown Tampa. The Heights is home to The Pearl apartments as well as the historic Armature Works building, which houses Heights Public Market, event space and a coworking facility.