Ybor City Gas Worx officially inks its first office rental deal

The establishment of a new headquarters for Grow Financial represents a significant milestone in the Tampa development initiative. Grow Financial Federal Credit Union, based in Tampa, is set to inaugurate its fresh headquarters situated in Ybor City.

This marks the inaugural office lease signing within the Gas Worx project, as disclosed in a news release from the development firm Kettler.

Gas Worx, a collaborative venture between Kettler, headquartered in Washington, D.C., and local real estate investor Darryl Shaw, is gearing up to revolutionize the southwest region of Ybor City into a pedestrian and cyclist-friendly community, featuring residential areas, retail outlets, and office spaces.

Grow Financial Federal Credit Union, an esteemed financial nonprofit catering to MacDill Air Force Base service members, has committed to leasing a 50,000-square-foot space. Construction is slated to commence in the coming year, with the office aiming to commence operations by the conclusion of 2026, as per the press release.

The Grow Financial headquarters will encompass two floors and incorporate retail spaces on the ground level.

“This decision further demonstrates the overall confidence in our vibrant and growing urban core,” Tampa Mayor Jane Castor said in a statement. “We look forward to the positive impact they will have on our local economy, as well as the unique contributions they will bring to the Ybor City community.”

Attracting a substantial office operation represents a pivotal milestone in the development process.

The influx of employees has the potential to energize the increasing array of enterprises relocating to this burgeoning neighborhood, including an indoor pickleball club and a cheesemaking venture.

“We are excited to be embarking on the next phase of Gasworx, which will truly start to deliver the placemaking and amenities that are central to a vibrant community,” Kettler CEO Bob Kettler said in a statement. “Office workers will bring daytime foot traffic to support the critical mass of retail proposed at the heart of the development.”

The office facility will be integrated into Phase 2 of the project.

This second phase will encompass three city blocks surrounding Second and Fifth avenues, Channelside Drive, and Avenida Republica de Cuba. It will include the construction of 500 apartments, 100,000 square feet of office space, and 85,000 square feet designated for retail.

Furthermore, a substantial warehouse within this phase of development is set to undergo transformation into a restaurant and market space, as indicated in the press release.

“Pre-leasing half of the first building at Gasworx is further testament to the pent-up demand for both residents and businesses to be centrally located, in a walkable, streetcar-accessible neighborhood that is part of the larger Ybor City community,” Shaw said in a statement.