(Carl Cronan is editor of RealEstateFlorida.)

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TAMPA, FL-Locally based Bay Cities Bank has the rare opportunityto open two new office buildings within a short stretch of eachother in its nine-year history. Having been the first tenant ofCorporate Center One at International Plaza in 1999, it will holdthe same distinction early next year when it moves to the nearbyCorporate Center Four.

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In signing a 12-year lease with landlord Crescent Resources LLC,Bay Cities will take 13,342 sf of class A space in the neweight-story building at 4301 W. Boy Scout Blvd. The bank's newspace is only slightly larger than its current headquarters atCorporate Center One, though the new building will include adrive-through teller window and corporate signage.

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"We get the chance to start from scratch with this newbuilding," Greg Bryant, Bay Cities president and CEO, tellsGlobeSt.com. "We find ourselves needing some additional space andthe new layout will allow us to operate a little moreefficiently."

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Bay Cities is one of only a few Tampa banks in growth modelately, with assets of more than $360 million and no past-due loansthrough last year. Its parent company, Florida Business BancGroup,quickly sold $7.5 million worth of private-placement stock earlierthis year.

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Bay Cities owns the majority of its branches beyond its leasedheadquarters in Tampa's Westshore business district, according toBryant. He says the bank, whose current lease expires in late 2009,considered other possible locations before deciding on CorporateCenter Four in August, and will likely seek a subtenant for itsexisting space at Corporate Center One when it moves over to thenew building sometime next year.

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Corporate Center Four, one of three new class A office buildingsunder construction within a mile of each other in Westshore,promotes itself as the first in the district to pursue LEEDcertification, which it expects to receive soon after getting itscertificate of occupancy in November, says Sharon Bragg, thebuilding's leasing associate with Crescent Resources. She saysthere is plenty of interest by prospective tenants for remainingspace in the 247,000-sf building, though no other leases have yetbeen executed beyond the one with Bay Cities. Crescent Resourceswill also move its Tampa office to the new building, she adds.

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Charlotte, NC-based Crescent Resources is a joint venturebetween Duke Energy Corp. and Morgan Stanley Real Estate Fund. Thecompany is a dominant commercial development and land managementfirm in many major markets throughout the Southeast andSouthwest.

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