Midtown Tampa office tower lands $45 million loan
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 10, 2023

Midtown Tampa’s first office tower, Midtown West, has landed a $45 million loan.

JLL Inc., which arranged the five-year loan for joint partner developers Bromley Cos. and Highwoods Properties, announced the deal on Nov. 1. As of press time, the mortgage had not yet been filed in Hillsborough County property records.

Midtown West is home to the headquarters of Kforce Inc. It is eight stories, 152,000 square feet and wrapped up construction in 2021. Other prominent tenants include PGIM Inc., the global investment management business of Prudential Financial, and Primo Water Corp.

Midtown Tampa is a 22-acre mixed-use district at Interstate 275 and North Dale Mabry Highway. It includes 185,000 square feet of retail — which counts nine restaurants among its tenants, along with Whole Foods and REI — as well as nearly 400 apartments and a dual-flag Aloft/Element hotel.

In addition to Midtown West, the district includes The Loft at Midtown, a boutique office building, and Midtown East, an office tower under construction. Midtown East has already landed the dual headquarters of Tampa Electric Co. and Peoples Gas as well as staffing agency Insight Global.

The JLL debt advisory team that represented Highwoods and Bromley was led by Ed Coco, Matt Casey and Lee Weaver, co-head of the Tampa capital markets team.

“Midtown West represents the best-of-the-best office product in a growing market with solid fundamentals,” Coco said in a statement. “The combination of a newer vintage asset built by strong institutional ownership within the thriving Midtown Tampa mixed-use development were all critical to both a successful lease-up and ultimately this refinance. We sincerely appreciate the relationships and efforts amongst all parties involved to execute in today’s challenging environment.”