Pasco County: T. Rowe Price to Build Campus
July 1st, 2009
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The Development Council team in Pasco County must be doing cartwheels over their most recent coup. T. Rowe Price will move their location to a 75 acre campus off of State Road 54, bringing with them 1500 jobs. Amprop is the developer on the project. Although it is not clear, in all probability, Pasco’s gain is Tampa’s loss. Currently, T. Rowe Price has an Investment Center located off of Boy Scout Rd., near Tampa International Airport. It is not public knowledge, as of yet, if the firm will relocate this space to the new Pasco campus. Common sense says a move is likely.
Source: Tampa Bay Business Journal
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Jacksonville, Raleigh and Dallas. I am not sure how much of an issue this is when companies are looking to relocate to Tampa, but I am quite sure it is an issue for real estate prices in the downtown submarket when compared to other submarkets. Westshore, the downtown market’s closest competitor, maintains average office rates at roughly $3/square foot higher than those Downtown. Increased convenience to the Interstate and Expressway are part of the reason for the higher rates, but parking in most of the Westshore district is typically included in the rent, while it is priced separately in the downtown market.
