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| Rendering of Park Tower, Downtown Tampa, FL |
TAMPA, FL – 2017 was a good year for Tampa’s Park Tower.
A new ownership group consisting of City Office REIT, Feldman Equities LLC and
Tower Realty Partners commenced a multi-million dollar renovation at Park Tower
to be completed this summer.
 |
| Mike DiBlasi |
Since acquiring Park Tower, eleven new tenants have
leased space at the building. Mike
DiBlasi, Feldman Equities Executive Vice President for Leasing and
Marketing expects 2018 to be even better.
“The renovation announcement really jump-started our
leasing efforts in 2017,” said DiBlasi. The largest of those deals was a 10,500
square foot lease with CAPTRUST Advisors, LLC to relocate their headquarters to
the building.
In 2017, DiBlasi and Leasing Representative Ceci Tricoli leased over 44,000 square
feet of new space before renovations began, and have signed proposals in-hand
for an additional 15,000 square feet.
The ownership group successfully converted an empty
14,685 square foot full floor to move-in ready spec suites ranging in size from
1,500 square feet to 3,500 square feet. The suites have been quickly absorbed
by the market.
“We hope to convert another floor to move-in ready suites
this year -- unless of course, a full floor user sweeps in first.” said
DiBlasi. “Once the renovations are completed this summer, including the
addition of a swanky new Buddy Brew Coffee café in the lobby, Park Tower will
be more than 90% leased for the first time in over a decade.”
 |
| Ceci Tricoli |
DiBlasi expects the renovations and spectacular views of Hillsborough Bay, the Hillsborough River and the Downtown Tampa skyline to advance the quick lease-up of the building’s remaining office space.
“We have had
tremendous success leasing up our past projects after completing our
renovations - current occupancy is over 97%. Park Tower should be similarly
successful. This is a great opportunity for tenants of all sizes to move into
the heart of downtown,” said DiBlasi.
In November 2016, a joint venture partnership consisting
of City Office REIT, Feldman Equities LLC and Tower Realty Partners acquired
Park Tower.
New leases signed include the headquarters relocation of
CAPTRUST Advisors, LLC, Buddy Brew Coffee and Continuity Logic, LLC. The
building is anchored by BB&T, United States Department of Justice – US
Attorney’s Office, Level 3 Communications, and Lykes Insurance.
The most significant change underway at Park Tower is the
modernization and brightening of the 475,000 square foot office building’s
façade by painting the exterior white and upgrading the main entrance.
In the works are new tenant amenities, including:
· High-end,
Buddy Brew Coffee, lobby café with seating
· 6th floor
“Chill Zone” tenant lounge
· All new fitness center and yoga room with
spin bikes
· Shared
tenant conference room
· New lobby
concierge desk
· Renovated
parking garage with new LED lighting
Park Tower is
located in the heart of downtown Tampa directly across from The Tampa Riverwalk
& Hillsborough River; Curtis Hixon and Gaslight Parks; and the Glazer
Children’s Museum and the Tampa Museum of Art.
Park Tower Renovations Underway;Tampa, FL Building Experiences Strong Leasing Momentumnvention Center, University of Tampa, and the
David A. Straz Jr. Center for the Performing Arts. The tower is LEED EB Gold
Certified and EPA Energy Star certified.
The tower’s
current amenities include FedEx Office, U.S. Post Office, BB&T Bank, Grow
Financial Credit Union, Pearl Salon, Nature’s Table Café, and a fitness center
and conference room (currently undergoing renovation).
For more
information on this release, please contact:
Tammy Youngman
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