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| City Center, St. Petersburg, FL |
St. Petersburg, FL. –
Less than a month after announcing a 26,000 square foot lease with Kobie
Marketing, Feldman Equities has executed a 14,000 square foot lease with the
GSA (General Services Administration) at City Center St Petersburg.
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| Larry Feldman |
“When we acquired
the property in January of 2011 the building had an effective occupancy of 44%.
We’re now over 93% and surging with the recent leasing and renewal activity,”
commented Larry Feldman, CEO of Feldman Equities and co-owner of City
Center.
Feldman attributes their turn around success
to an aggressive pricing program coupled with an extensive renovation program.
Given their recent success, the City Center ownership group is setting their
sights on acquiring new buildings in downtown St Petersburg. Their plan is to purchase under-performing
assets and investing extensively in new renovations and tenant amenities to
attract new tenants.
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| Cliff Stein |
The GSA will move the technology arm of the Veteran’s
Administration from their Bay Pines facility to the City Center office complex
in St. Petersburg’s Downtown Central Business District. David Green with Jones Lang LaSalle
brokered the deal.
Feldman Equities is the modern business entity that
encompasses a century of success in commercial real estate development.
In the
last 25 years, Larry Feldman has developed or acquired over 11 million square
feet of office and retail properties with an aggregate value in excess of $2.5
billion.
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| Reid Berman |
Feldman Equities is recognized for its hands-on approach to turning
around distressed assets. Feldman gained a national reputation as a property
turnaround specialist when he was the Chairman and CEO of the publicly traded
Tower Realty Trust, Inc. (NYSE: TOW).
Tower Realty Partners is an Orlando-based commercial real
estate owner focusing on value-added opportunities throughout the state of
Florida. Tower’s principals are Cliff Stein and Reid Berman.
Since its inception, Tower has acquired over $1 billion of office properties.
Currently, Tower’s assets consist of nearly 4 million square feet office
property throughout the state of Florida.
For a complete copy of the company’s news release, please
contact:
Feldman Equities,
Larry Feldman
727-822-3395
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