Prudential investment arm signs office lease at Midtown Tampa

A Fortune 500 company is setting up shop at Midtown Tampa.

PGIM Inc., the global investment arm of Prudential Financial, announced Wednesday that it’s leasing 22,272 square feet at Midtown West, the first main office building at the $1 billion development at N Dale Mabry Highway and Interstate 275.

PGIM joins two of Tampa Bay’s largest public corporations at Midtown West: Kforce and Primo Water, which are both in the process of relocating their headquarters there. South State Bank, Kast Construction and real estate companies Compass and Savills also have hubs there.

While the Newark, New Jersey-based Prudential already has offices in Tampa, it’s a new market for PGIM, which also has hubs in Orlando and Miami. As of this spring, PGIM had $1.4 trillion in assets under management.

Highwoods Properties, which manages leases for Midtown Tampa, said PGIM will move into a full floor of the building next spring, bringing around 150 new jobs to Tampa.

“We are thrilled to welcome PGIM to Midtown West,” Dan Woodward, Highwoods’ senior vice president and Tampa market leader, said in a statement. “They join the building’s distinguished customers who have helped make Midtown function as the area’s workforce epicenter.”

PGIM’s arrival means the 152,000-square-foot Midtown West building is now 85% leased. This spring, Midtown developers the Bromley Companies announced plans for Midtown East, which will stand 16 stories and 400,000 square feet. It’s expected to break ground this year and be available for leasing by late 2024.