One of New Tampa’s biggest corporate footprints is about to open up. Syniverse is getting ready to leave its sprawling Highwoods Preserve office, putting a roughly 198,750-square-foot, six-story building known as Preserve 1 on the leasing block.
Orlando-based Foundry Commercial has been tapped to bring the space to market. The building could be available as early as 2027, even though a public listing shows Syniverse’s lease running through December 31, 2027. The campus-scale property has housed Syniverse since 2005 and is sized to fit an estimated 1,200 to 1,500 employees, meaning that is a lot of cubicles to refill.
Preserve 1 Hits the Market
Foundry Commercial has been hired to lease Preserve 1 at the Highwoods Preserve Corporate Center as Syniverse prepares its exit. The brokerage team, Dale Peterson, Joe Chick and Christine Mansour, is representing the ownership with assistance from CBRE’s Barry Hanerfeld and Molly-Molloy Catlett, according to Business Observer.
Building Specs and Capacity
Preserve 1 comes loaded with infrastructure that is tailor-made for big users. It is built out with raised flooring, a large data center and dual 2-megawatt backup generators. The campus offers both structured and surface parking for nearly 1,000 vehicles along a lakeside setting.
The asset brochure lists the address as 8125 Highwoods Palm Way and highlights floor plans, move-in ready conference facilities and furnished workspaces that help make the 198,750-square-foot block attractive to enterprise tenants, per Cushman & Wakefield.
What It Could Mean for Tampa's Office Market
Nearly 200,000 square feet hitting the market in a single shot is a big move, but it will not exactly shock anyone watching Tampa Bay's office trends. The region has been in what brokers like to call a “flight to quality,” with tenants gravitating toward amenitized, Class A space.
Tampa Bay recently posted modest positive absorption in the local MarketBeat, a signal that well-located, well-equipped buildings like Preserve 1 usually refill faster than older, less polished inventory, according to Cushman & Wakefield's Tampa Bay MarketBeat.
Syniverse and Next Steps
Syniverse, which brands itself as “the world’s most connected company” on its corporate site, is not saying yet where it is headed or why it is leaving the Highwoods campus. The company has occupied the site since 2005 and, according to local listings cited by Business Observer, processes tens of billions in transactions every year.
While Syniverse keeps quiet about its next address, brokers expect interest from both large local firms and national tenants once Preserve 1 is formally rolled out to the market. For Tampa's office sector, it is a sizable game of musical chairs that is just getting started.
