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Gasworx's First Office Building in Ybor City Files a $12.5 million Interior Build-Out

The six-story office building at 1301 E. 4th Ave. in Tampa, Florida, future headquarters of Grow Financial and a new Ferguson office, has filed a $12.5 million application to build out its empty floors ahead of a December finish.

By Morningline Research · November 5, 2026

The new office building at 1301 E. 4th Ave., on the edge of Ybor City in Tampa, Florida, has filed to finish its insides. An application filed Oct. 28 covers the "1st generation tenant fitout of existing shell office space," with a reported value of $12.5 million.

The shell is up. Now the floors get built out for the people moving in: Grow Financial Federal Credit Union, which is bringing its headquarters here, and Ferguson, the Fortune 500 construction-products company.

From a lease in 2023 to a fit-out this fall

Timeline of Grow Financial Place at Gasworx, from the 2023 Grow Financial lease to the October 2026 fit-out applications
Graphic: Morningline Research, from City of Tampa permit applications and the reporting linked in this story.

The application spells out four floors of work. Level 1 gets a studio space, level 2 offices, level 5 a training area and level 6 a board room. It doesn't say which tenant takes which floor.

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There are two records with the same wording. The first was filed Oct. 15 with no value listed. The second followed on Oct. 28 at $12.5 million. Both are applications, so we count them by filing date, and the value is the one reported on the filing, not a contract amount.

The building has been a long time coming. Grow Financial signed on in September 2023 and agreed to move its headquarters "from a suburban office complex," the developer Kettler announced. The credit union took 50,000 square feet on two floors, plus retail space on the ground floor along 4th Avenue, Florida YIMBY reported.

Developer Darryl Shaw called pre-leasing half the building "further testament to the pent-up demand," according to Florida YIMBY.

Crews topped out the six-story building last October, the Business Observer reported. It has 9,000 square feet of retail at street level, a rooftop deck and a lobby cafe and bar.

Fully leased before it opens

In August, Ferguson signed for about 50,570 square feet, filling the rest of the office space before the building is done, the Business Observer reported. Ferguson posted $31.3 billion in sales in 2025. It plans to move in April 2027 and will use the space for executive leadership, several business functions and training for new hires. Its headquarters stays in Newport News, Virginia.

"We chose Tampa for its strong accessibility and connectivity to our locations across all 50 states," Ferguson CEO Kevin Murphy said, according to the Business Observer.

The building is scheduled to be finished in December, according to the same report.

Reports differ on the building's size. When the building topped out in 2025, the Business Observer described it at 145,000 square feet. Its August story put it at roughly 110,000. Neither explains the gap, and the permit filings don't list a square footage.

Fifty acres between downtown and Ybor

The Centro Ybor complex in Ybor City, Tampa, with a TECO Line streetcar passing in front
Centro Ybor in Ybor City, Tampa, with a TECO Line streetcar out front. Photo: Peter K Burian, CC BY-SA 4.0, via Wikimedia Commons (cropped).

The office building is the first piece of a much bigger plan. Gasworx sits between downtown Tampa and Ybor City, on land that once held a Peoples Gas storage facility and other industrial buildings, Florida Trend reported. Shaw had spent an estimated $70 million since 2014 assembling the land, the magazine said.

He's developing it with Kettler and PPF Real Estate. The district covers 50 acres, and at full build-out the plan calls for 5,000 homes and 500,000 square feet of office space, according to the Business Observer. A stop on the TECO Line Streetcar is in the plans too.

The money for this phase came together early last year. In February 2025 the partners closed a $182 million loan from Bank OZK to speed up construction, WUSF reported. That phase pairs the office building and its marketplace with two residential buildings, one five stories and one 10.

Nationally, private nonresidential construction spending rose 1.1% in September, the sixth monthly gain in a row, Construction Dive reported. Data centers did most of the lifting.

Back on 4th Avenue, the fit-out application is in and the building is due in December. Ferguson's move-in is set for April 2027.

How we count

The filings come from the City of Tampa's building permit applications for 1301 E. 4th Ave., filed Oct. 15 and Oct. 28, 2026. Tampa permits in this story are counted by filing date. The value is the one reported on the application. Tenant, developer and project details come from the reporting linked here.

See Tampa's latest permit numbers, updated weekly.

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More numbers: Tampa, FL building permit activity, updated weekly.