Midtown Tampa is getting another high-profile corporate tenant.
Nestle, the multinational Swiss food and beverage conglomerate, is moving its Tampa sales office from the downtown core to Midtown West, the 152,000-square-foot office tower at 3659 Midtown Drive in the $1 billion development at North Dale Mabry Highway and Interstate 275.
The company will shrink its footprint as it moves, going from 9,200 square feet in downtown Tampa to 2,813 square feet at Midtown. The move is expected to take place this summer.
“Tampa’s profile is rising nationally and internationally, and we see that reflected in the mix of retailers and office tenants that the Midtown Tampa team has been able to attract,” Craig Richard, president and CEO of the Tampa Bay Economic Development Council, said in a statement. “We’re delighted to see that Nestle is continuing its commitment to the Tampa area.”
The Nestle move is the latest in a flurry of big real estate transactions at Midtown over the last 18 months. Two of Tampa Bay’s largest public companies, Primo Water and Kforce, have already moved their corporate headquarters into Midtown West. Real estate firm Greystar recently announced a lease at another building, the Loft, that means that building is fully booked.
And in December, Tampa Electric Co. and Peoples Gas announced it would be moving into Midtown East, a forthcoming 400,000-square-foot tower scheduled to open in 2025. The companies will operate out of 230,000 square feet spread across 11 floors.
“The office spaces that are flourishing offer convenience, unique experiences and a sense of community, which is something we’re proud to have built across the development,” Dan Woodward, senior vice president and Tampa market leader at Highwoods Properties, which manages leasing at the buildings.