Industrial East Tampa magnet for office projects.(Real Estate Monthly)

East Tampa is a submarket with an identity crisis.

The area has long been known as one of the top areas for industrial development, especially for warehouse and distribution facilities. Now it's also becoming a magnet for office users looking for low lease rates and a generous amount of parking. These days, in fact, the list of companies with office buildings in East Tampa reads like a Who's Who in American Business: Citibank. Progressive, Pharmerica, UPS.

The evolution of East Tampa reflects how the real estate industry is changing. Flex [TABULAR DATA OMITTED] buildings - buildings that can accommodate either office or industrial users - have become a staple of new development. At the Same time, brokers and tenants have become more creative in their approach to space.

"The Eastside continues to attract back office users," broker Mike Davis said. "The buildings are attractive, they're clean, and …