TECO, Peoples Gas To Purchase 11 Floors Of Midtown Tampa Office Tower

TAMPA, FL — Tampa Electric Co. and Peoples Gas announced Friday that they will move to a new headquarters building in Midtown Tampa in 2025.

The updated facility will be energy-efficient and storm-resistant, allowing TECO to better serve its customers and the community, as well as be an employer of choice in a competitive marketplace, said Archie Collins, president and chief executive officer of Tampa Electric.

“In the heart of the community that our companies have called home for more than a century, our new location will be situated on higher ground and readily accessible to employees at all times, including during storm response, which is an important part of our service to customers,” said Collins. “This is an investment in resiliency, allowing us to continue to reliably serve our customers as we strive to provide power that’s always on.”

After extensive evaluations of multiple sites between downtown and the Westshore corridor, Tampa Electric and Peoples Gas chose Midtown Tampa because it's an inland location, away from potential flood areas; the new construction will meet current codes and efficiency standards with significantly improved hurricane resiliency and the modern design and technology will allow the energy company to use sustainable elements that align with its vision for a cleaner energy future.

Collins said the building will be sized to accommodate future growth, with benefits such as parking and a convenient location near Interstate 275.

“As workplaces evolve, we continue to value spaces that offer opportunities to interact and connect with each other and the community,” said Helen Wesley, president of Peoples Gas. “The openness of the new office design fosters collaboration and is the perfect place for us to continue to grow and share our vision for Florida’s clean energy future.”

The companies have occupied TECO Plaza, 702 N. Franklin St., in downtown Tampa since 1981, and the lease expires in 2025.

Collins said the move is actually a return to the company's roots. Prior to its current office downtown, Tampa Electric’s headquarters was blocks away from Midtown Tampa, at the corner of Dale Mabry Highway and Kennedy Boulevard, for 25 years beginning in 1956.

Tampa Electric and Peoples Gas will own 11 floors of the Midtown East building at 1 Midtown Place. The building will encompass more than 450,000 square feet with a 5,925-square-foot penthouse on the top floor. The current TECO headquarters is 285,621 square feet.

With more than 900 employees reporting to this facility, it will be the largest employer in Midtown Tampa.

As compared to leasing, owning the building will provide a long-term financial benefit to TECO customers, Collins said.

Construction will begin in early 2023 and will take about two years. Bromley Companies and Highwoods Properties are developing the 17-story building. Five floors will be available for other occupants.

“Midtown Tampa continues to serve as a catalyst for growth across the city by attracting top-tier talent and bringing the community together to live, work, shop, dine and connect,” said Nicholas Haines, chief executive officer of Bromley Companies. “As the home to Tampa Electric and Peoples Gas’ new headquarters and two nearly fully leased office towers, Midtown has established itself as a dynamic and inspiring place to work with innovative, sustainable building designs and access to best-in-class amenities. We’re excited to welcome them to our growing network of office workers, residents and community members.”

On 23 acres, the $1 billion, award-winning Midtown Tampa is a mixed-use community that is serving as a catalyst for an entirely new district connecting Westshore and downtown.

Tampa Electric, one of Florida’s largest investor-owned electric utilities, serves more than 800,000 customers in West Central Florida. Peoples Gas System, Florida’s largest natural gas distribution utility, serves more than 445,000 homes and businesses across the state.

Both are subsidiaries of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, Canada.