Crescent Resources plans to start construction soon on its fourth office building fronting the International Plaza mall in Tampa, Fla. The [tag]Duke Energy[/tag] Corp. real estate unit will add 260,000 square feet of offices to an unusually tight market in the [tag]Westshore[/tag] business district. Westshore’s vacancy rate for Class-A office space was low as 5 percent in the first quarter.
Crescent recently closed on 5.6 acres on [tag]Boy Scout Boulevard[/tag] at [tag]Lois Avenue[/tag]. The eight-story building is slated for occupancy in early 2008. “Our plans right now are to finish the drawings and start construction,” says Ron Ruffner, Crescent vice president in [tag]Tampa[/tag]. Charlotte-based Crescent has been developing office space in that market since 1988.
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