Strategic Property Partners, LLC Begins Construction on Tampa's First Downtown Trophy Office Tower in Over 25 Years

TAMPA, Fla., July 9, 2019 /PRNewswire/ -- Strategic Property Partners, LLC ("SPP") today announced the start of construction on 1001 Water Street, the first new trophy office tower to break ground in the city's downtown in almost three decades. As part of the 56-acre Water Street Tampa development transforming the urban waterfront, SPP is introducing an array of workspaces to support Tampa's growth and robust economy.  

1001 Water Street is sustainably designed and will be both WELL Core and Shell certified as well as LEED certified, a first for the region, once complete in late summer 2021.

"The start of construction at 1001 Water Street signifies the beginning of a new chapter for workplaces. It is not just the first new trophy office tower in Tampa in decades, but the first office of its kind," said James Nozar, CEO of SPP. "We are seeking to reimagine the workplace, where employees, their experiences, and overall wellbeing are at the heart of the design and functionality of the space."

A 20-story mixed-use building with approximately 380,000 square feet of office space and retail, 1001 Water Street has been designed by COOKFOX Architects. True to COOKFOX Architects' signature biophilic design philosophy—which has been shown to reduce stress, enhance creativity, improve well-being and expedite healing—1001 Water Street incorporates natural materials and access to daylight and vegetation, including an expansive rooftop terrace, to connect people with nature on a daily basis. Nine double-height exterior terraces will adorn the building's façade, providing space for tenants to enjoy an indoor/outdoor work experience, while expansive floor-to-ceiling windows will flood the offices with natural light.

1001 Water Street will feature additional outdoor space via a public plaza that connects it to the adjacent University of South Florida's Morsani College of Medicine. Designed by Nelson Byrd Woltz Landscape Architects, the vibrant plaza embraces regional ecology, encourages community interaction and celebrates place with a large-scale art installation to be created by LED artist Jim Campbell. 

"Tampa is experiencing an incredible boom in population and job growth," said David Bevirt, Executive Vice President of Corporate Leasing and Strategy for SPP. "We saw a tremendous opportunity to support the city's growth and provide cutting-edge office space along with the lifestyle and amenities-driven experience that businesses and employees are looking for within the Tampa Bay area today."

The start of construction on 1001 Water Street comes on the heels of the recent announcement that Water Street Tampa is the first neighborhood in the world to receive the WELL Design and Operations designation under the pioneering WELL Community Standard. Grounded in an evidence-based approach, a WELL community is designed to promote health and wellbeing across all aspects of community life.

Global commercial real estate services firm JLL is exclusively handling the leasing efforts for 1001 Water Street. Coastal Construction, one of the Southeast's preeminent construction companies and one of the top 100 construction management companies in the country, is constructing the office tower.

Water Street Tampa is a multi-phased, mixed-use community that, upon completion, will include more than nine million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space, making it one of the largest mixed-use developments in the country.

The initial phase of the development will include one million square feet of office space across three properties with Water Street Tampa. In addition to 1001 Water Street, Sparkman Wharf offers 180,000 square feet of unprecedented, loft-inspired creative office space to the neighborhood. 400 Channelside will span 500,000 square feet and feature a 30,000-square-foot sky garden that offers diverse spaces for outdoor meetings, informal gatherings, events, fitness activities and more.

To learn more about available office space within the Water Street Tampa neighborhood, please visit waterstreettampa.com/offices.

About Strategic Property Partners
Strategic Property Partners ("SPP") is a partnership between Cascade Investment LLC, and Jeff Vinik. SPP is a full-service commercial real estate development firm focused on world-class execution, innovation, and creating high quality and experiential places. SPP's first project, Water Street Tampa, is being developed on over 50 acres of land the company controls in downtown Tampa along the waterfront. The phased Water Street Tampa development project is revitalizing the currently underutilized tract of land to create an urban, mixed-use waterfront district consisting of approximately 9 million square feet of new commercial, residential, hospitality, cultural, entertainment, education, and retail uses, totaling over $3 billion in private investment from SPP. Integrating principles of walkability, sustainability, connectivity, design quality, and wellness, SPP will create, own and operate this new world-class neighborhood in in Tampa, while also elevating the city's national prominence. For more information on Water Street Tampa, visit www.waterstreettampa.com.

About COOKFOX 
COOKFOX Architects, DPC is a New York City based architectural and interior design studio founded in 2003. COOKFOX has built a studio focused on high-performance, environmentally responsive design and are most well-known for innovative design at the highest standards of environmental performance. COOKFOX focuses on biophilic design to create architecture that supports physical health and mental wellness. With a portfolio of diverse residential, workplace, and education projects, COOKFOX seeks to understand each project in its unique environmental, cultural, and historical context, to pursue architecture that restores, regenerates, and elevates our collective experience of the urban environment.

About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

SOURCE Strategic Property Partners, LLC