The Edison Suncoast Consists of Two Loft-Style Office Buildings Totaling 155,000 SF in the Tampa Bay Area’s Growing 54 Corridor
TAMPA, May 28, 2019 – Cushman & Wakefield has been named the exclusive leasing agent for a 155,000-square-foot office project in Tampa’s booming 54 Corridor submarket called The Edison Suncoast. The project will consist of two modern, loft-style buildings, which are being developed on a speculative basis.
The developer, TPA Group, has retained the Cushman & Wakefield team of Executive Managing Director Jimmy Garvey and Senior Director Barry Oaks to handle leasing for the project. TPA Group is also currently developing a similar project called Heights Union in Tampa Heights, just north of downtown Tampa. That project is already more than 50 percent leased.
The Edison Suncoast will consist of two 77,500-square-foot buildings with three stories each. The buildings will feature an efficient, offset core design that keeps floorplates open for a more collaborative environment and large windows creating an abundance of natural light. The Edison Suncoast will also provide an above standard parking ratio of 5.8 spaces per 1,000 rentable square feet in addition to several tenant amenities including an on-site walking trail. Construction began in February and completion is expected in Q1 of 2020.
The project is situated on an 18.45-acre site at Suncoast Parkway and State Road 54 in Pasco County, about 30 miles northwest of Tampa’s urban core. The submarket, known as the 54 Corridor, is considered the next residential growth pocket in the Tampa Bay area. Demographics show a 95.2 percent increase in population from 2000 to 2010, and the current population of 53,130 is projected to grow by 21 percent by 2022.
The location is central to an abundance of residential communities, high-quality retail and dining options, as well as two hotels. Its proximity to the Suncoast Parkway provides convenience to Tampa International Airport, as well as Tampa’s Westshore District and Downtown.
“The 54 Corridor’s population has exploded in recent years and while housing and retail have been delivered, the area still lacks quality office product,” said Garvey. “The Edison Suncoast is the answer to the lack of available office space in this market and we are confident it will be met by strong pent-up demand.”
Added Oaks, “TPA Group’s offset core design increases employee per square foot and usability, while also fostering productivity, collaboration and creativity among employees. This is the kind of office space that helps employers remain competitive when it comes to retaining and attracting talent.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida