 |
| Wells Fargo Center, Tampa, FL |
The joint venture purchased the Class A office building for
$44.8 million ($116 per square foot). Larry Feldman, President of
Feldman Equities will spearhead leasing efforts while Tower Realty Partners
will handle management responsibilities.
The deal was
brokered by Eastdil Secured representing the seller and HFF representing the
buyer.
Located across from
the Tampa Convention Center in downtown Tampa, the building is one of
Tampa’s premier Class A office buildings with unimpeded views of Hillsborough
Bay, the Hillsborough River and the Downtown Tampa skyline.
 |
| Larry Feldman |
Anchored by Wells Fargo & Company, Phelps Dunbar and
UBS, Wells Fargo Center is currently 77% leased with one of downtown Tampa’s
most desirable full floor vacancies.
It has been
institutionally owned and operated since it opened and has undergone
multi-million dollar renovations modernizing building systems and
telecommunications infrastructure as well as renovating common areas.
The building received Gold LEED certification in 2010. New ownership is planning extensive upgrades
to the building’s leasing amenities which will include a high-end fitness
center, a renovation of the garage, and extensive renovations to the bathrooms
and common corridors.
 |
| Fountain Square II, Tampa, FL |
Over the last 20
years, Feldman Equities and Tower Realty Partners have successfully joint
ventured on the acquisition of millions of square feet of underperforming
office buildings.
The joint venture plans on implementing an aggressive
leasing program at Wells Fargo Center, building on their recent success in
bringing Fountain Square II from 70% to over 97% leased and City
Center in downtown St. Petersburg from 44% to over 82% occupancy shortly
after acquiring the assets.
 |
| City Center, St. Petersburg, FL |
Larry Feldman
stated “Although Wells Fargo Center is one of top buildings in downtown Tampa;
we intend to make it even more attractive to prospective tenants by upgrading the
leasing amenity package.
“ In addition, we intend to use our low cost basis in order
to aggressively pursue tenants and rapidly lease-up the building. We are excited about this acquisition
because it provides us with yet another opportunity to “play to our strength”
as a top redeveloper of office buildings.”
For a complete copy of the company’s news release, please
contact:
Feldman Equities
Larry Feldman
727-822-3395
No comments:
Post a Comment