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Highwoods Properties JV to develop $72M Tampa, Fla., office building

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Highwoods Properties JV to develop $72M Tampa, Fla., office building

A joint venture between Highwoods Properties Inc. and The Bromley Cos. LLC will develop a 150,000-square-foot office building in Tampa, Fla., with total investment expected to amount to $72 million.

The Midtown One project is the first of three office buildings planned within the Midtown Tampa development, a new mixed-use project on 22 acres that will include 1.8 million square feet of development. Construction of Midtown One is expected to begin in the fourth quarter, with completion scheduled for the first quarter of 2021.

The partners will market the remaining planned office space, which will total about 600,000 square feet over two buildings. Highwoods owns 80% of the joint venture.

Separately, Highwoods said Vanderbilt University Medical Center renewed its lease for 210,000 square feet at 3401 West End and signed an additional 20,000 square feet at 3322 West End in Nashville, Tenn.