Tampa’s office market shifts in favor of landlords — in a way one broker hasn’t seen since 2006
When Clay Wommack took over the leasing of Westshore Corporate Center in late 2015, he found himself in a position he hadn’t been in for a decade: Multiple tenants were vying for the same blocks of office space.
“It’s one of the first times in a long time I’ve handled an asset where an owner really got to sit back and say, ‘Wow, we got a lot of deals here, but what’s the best for the asset?'” said Wommack, director of office leasing for Franklin Street in Tampa.
That demand brought the Westshore Corporate Center — the 12-story building at the southwest corner of Westshore Boulevard and Interstate 275 — to 100 percent occupancy for the first time since 2001. Amscot Corp., which has signage on the building, in September renewed its lease for 33,000 square feet for five years. Progressive Casualty Insurance, which had 40,000 square feet in the building, also signed a renewal and added an additional 15,550 square feet.