TECO pays $11.8 million for its Midtown Tampa real estate
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 3, 2023

Tampa Electric Co. has closed on the purchase of the real estate it will occupy in Midtown Tampa.

The utility company paid Midtown master developer Bromley Cos. $11.8 million for 11 commercial condominiums in office tower Midtown East, according to a deed filed in Hillsborough County in December.

“Our joint venture will allow us to meet the continued growing appetite top companies have for premier office space in Midtown Tampa,” Bromley CEO Nicholas Haines said in a statement, “and Midtown East has been conceived with sustainability at the core of our ethos and design.”

TECO and Peoples Gas will be the anchor tenants of Midtown East, an 18-story, 430,000-square-foot office tower that will front Himes Avenue in Midtown. Midtown is a 22-acre, mixed-use district at the intersection of Interstate 275 and North Dale Mabry Highway.

The utility companies will occupy 296,000 square feet in the tower with a combined head count of 900 employees. New York-based Bromley Cos. is developing the tower in partnership with Highwoods Properties Inc. Highwoods and Bromley previously partnered on the development of Midtown’s first corporate office tower, Midtown West.

Highwoods and Bromley will own 134,000 square feet of office space in the tower (floors 10 through 15) as well as street-level retail space.

“We are thrilled to partner with Bromley once again as we move toward our groundbreaking on Midtown East,” Ted Klinck, president and CEO of Highwoods, said in a statement. “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.”

TECO has had a major presence in downtown Tampa for 40 years. Read more about how the move will affect the central business district here.