Excerpted from Tampa Bay Business Journal story.
A place to shop and work
Beyond the waterfront dining and biergarten, Sparkman Wharf will also contain retail and office space: 180,000 square feet of loft-style office space with up to 40-foot ceilings in the spaces that were previously occupied by a movie theater and other entertainment concepts.
The office space is being marketed at record-high rents for Tampa Bay. Chad Rupp, a Franklin Street executive who’s overseeing the office leasing at Sparkman Wharf, said the gross rent is in the “mid to upper $40s” per square foot.
Gross rent is all-inclusive. The highest office rents in downtown Tampa are currently in the mid $30s; the overall asking rent for top-tier space is $31 per square foot, according to Cushman & Wakefield.
“We’ve had reactions on both ends of the spectrum,” Rupp said. “Some recognize the uniqueness in the opportunity and what it could mean for their business and recruiting top talent. Others obviously have sticker shock based on historical rents in downtown.”