Cybersecurity company ReliaQuest relocating HQ to Water Street Tampa

At 120,000 square feet, it’s by far the largest lease at the development’s new office tower.
Thousand and One, which is located at 1001 Water Street in Tampa, will be the new home of Tech company ReliaQuest.
Thousand and One, which is located at 1001 Water Street in Tampa, will be the new home of Tech company ReliaQuest. [ Seamus Payne, Courtesy of Strategic Property Partners ]
Published Aug. 24, 2021|Updated Aug. 24, 2021

Tampa cybersecurity firm ReliaQuest is on the move. Soon, it’ll be Water Street Tampa’s biggest corporate tenant.

The company, which has five offices in the United States and Europe, has signed a lease for 120,000 square feet in Thousand and One, the downtown Tampa development’s new office tower. That’s just across Garrison Channel from ReliaQuest’s home base on Harbour Island; the company also has an office in the Westshore district.

ReliaQuest will lease the tower’s six highest stories — nearly a third of its total office space — and its name will adorn at the top. Terms of the deal were not disclosed, but officials with Water Street developer Strategic Property Partners have said leasing starts at around $50,000 per floor.

Related: Tampa real estate firm signs Water Street Tampa's second largest office lease

With around 300 local employees — and another 150 to 200 coming in the next couple of years — ReliaQuest had outgrown its two offices, founder and CEO Brian Murphy said.

“The opportunity with Thousand and One in Water Street was to get the team back together into one building,” Murphy said. “We have enterprise customers coming in from around the globe now. We have team members moving between different locations and different geographies. So it just gives us a center point of collaboration, a workplace where we can train and innovate.”

Murphy said ReliaQuest did look at other cities, but decided to stay in Tampa in part because of how the city’s technology sector has grown since he founded the company in 1997.

“You hear about it more now,” he said. “I still think we need to get to a point where we’re talking about thousands of people, not hundreds of people. It’s great that we have this momentum, we’ll continue that momentum, but it takes companies continue to be successful here. We like to think of ourselves as one of those companies that has proven you can start here, grow here, and expand globally from Tampa.”

When ReliaQuest moves in as Thousand and One’s anchor tenant in early 2022, it’ll be surrounded by a handful of smaller companies. Accounting firm RSM has leased 15,700 square feet, real estate investment firm Sila Realty Trust has 10,000 square feet and builder Suffolk Construction Company has 8,500.

Strategic Property Partners has marketed the 20-story Thousand and One as a building designed with workers’ wellness at the forefront, with open outdoor spaces, native vegetation and filtered air and water.

Related: New Tampa office tower opens on Water Street with wellness in mind

Dave Bevirt, Strategic Propety Partners’ executive vice president of corporate leasing and strategy, said that wellness narrative has played a big role in luring companies like ReliaQuest to Water Street.

“They’re a perfect tenant for Thousand and One,” Bevirt said. “Cybersecurity is a big business sector here in Tampa. They also fall into that technology category; technology is really a growing sector here. And they answer for both.”

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Bevirt said Strategic Property Partners plans to announce additional Thousand and One tenants soon, as the company is still negotiating leases with companies both in and outside Tampa Bay.

Companies are looking harder at Tampa because of “the talent pipeline and the educational system that feeds into that funnel,” Bevirt said. “The other things that are behind that are quality of life, no state income tax, a low corporate tax rate — all those things are ingredients which really fall into the category of companies now really starting to zero in on Tampa.”

Water Street Tampa is being developed by Tampa Bay Lightning owner Jeff Vinik and Bill Gates’s Cascade Investment. Vinik is among a group of investors who have loaned $15 million to the Times Publishing Co., owner of the Tampa Bay Times.