Two New Leases & a Renewal at Wells Fargo Center Tampa

Leasing remains strong at downtown Tampa’s Wells Fargo Center!  Feldman Equities Mike DiBlasi & Ceci Tricoli along with co-brokers from JLL and Cushman & Wakefield have signed two new tenants and a 30,311 square foot renewal.

TWFC Eblast Dunbar

Phelps Dunbar signed the 30,311 square foot renewal which was co-brokered by David Green of JLL. The law firm opened its Tampa office in 2001 as a part of the firm’s goal of becoming the preeminent firm in the Gulf Coast. With the growth in the Tampa Bay region, as well as the state of Florida as a whole, the Tampa office has quickly become one of Phelps Dunbar’s leading offices with approximately 50 attorneys.

Attorneys in the Tampa office have particular strengths in the areas of business and transactional proceedings, litigation, insurance and reinsurance, intellectual property, bankruptcy and creditors’ rights, real estate, and employment law. 

The building welcomes two new tenants.

Scarborough Attorneys at Law signed a new lease co-brokered by Kenneth Tenukas of Cushman & Wakefield. Scarborough Attorneys at Law is an AV Peer Review rated insurance defense law firm operating throughout Florida.

Kynes, Markman & Felman, P.A. signed a new lease co-brokered by John Fish of Cushman & Wakefield. The law firm based in Tampa focuses on civil appeals and litigation support and criminal defense and appeals.  

Wells Fargo Center Hosts Chamber After Hours Event

It is always a pleasure hosting the Greater Tampa Chamber of Commerce Business After Hours event at Wells Fargo Center Tampa. What a great turnout! Thank you to The Corner Cafe & Deli for providing the delicious food. Guests enjoyed chair massages in our fitness center, music, magic and lots of great prizes. Owner Larry Feldman of Feldman Equities shared his excitement for Downtown Tampa including all the great new amenities and renovations at Wells Fargo Center. 

 

Wells Fargo Center has a Newly Renovated Lobby

Downtown Tampa’s Wells Fargo Center has a newly renovated lobby as part of a multi-million dollar renovation.

 

Prospects and tenants have responded favorably to the building’s newly-installed amenities, including a state-of-the-art fitness center, conference room with a 90” TV, modern café, and internet lounge.  The partnership spent nearly $100,000 on new fitness center equipment alone.

Hi-tech and amenity-rich offices give employers the edge in appealing to the younger, upwardly-mobile employee that typically wants to work downtown.

Both the fitness center and the new Corner Café have proved to be particularly appealing to younger employees. The new café replaced a nondescript delicatessen with few healthy options and drab seating. In its place is an airy, contemporary eatery with an extensive menu and seating to suit almost every taste — low-slung banquettes, counter height stools and faux-leather chairs with little swivel desks on which to prop an iPad.

To brighten and open up other areas, dark wooden doors were replaced with glass ones. Old ceiling panels have been removed, raising ceiling heights to 13 feet and giving the space a hip, loft-like feel. In the elevator banks, ’80s-style marble flooring has been replaced with pure white porcelain tiles that reflect the new energy-efficient LED lights overhead. The elevators themselves are intelligently programmed to anticipate when a certain floor will be at peak-demand times.

The lobby was updated with new seating areas, a multimedia screen, new lighting, and electronic directories.

Additional renovations included modernizing the building systems and infrastructure with a state-of-the-art elevator system for both the building and the garage, as well as a new roof. Extensive upgrades were made to the building’s parking garage as well as the tenant common spaces, such as new tile floors, new lighting, new carpeting, and bathroom upgrades.

As the “re-inventors” of the office building Feldman Equities and Tower Realty Partners specialize in turning around underperforming and distressed office assets.

 

Feldman Equities LLC/Tower Realty Partners Reacquire Equity Position

WFC TampaFeldman Equities LLC and Tower Realty Partners have reacquired an equity position in Wells Fargo Center.  The groups’ ownership interest is a joint venture partnership with an institutional investor that purchased the building late last year.

Feldman Equities and Tower Realty originally acquired the building at the end of 2012 in joint venture partnership with another institutional investor.  “We are excited about the future of Downtown Tampa and look forward to being a part of that future,” stated Larry Feldman, CEO of Feldman Equities.

As part of the agreement Tower Realty Partners will retain management responsibilities with Feldman Equities providing leasing oversight.  Cushman & Wakefield has been retained to represent the ownership group in leasing the building.  Jeff Lanning and Brian Breeding of Cushman & Wakefield will spearhead leasing efforts. The building currently has 33,000 square feet available for lease.

“Wells Fargo Center has one of the best locations downtown,” said Lanning. “Tenants love the newest amenities which include a state-of the-art fitness center, conference room with a 90” TV, a modern café and internet lounge all with views of the Hillsborough river.”

Wells Fargo Center recently underwent a multi-million dollar renovation involving the modernizing of the building systems and infrastructure including an entirely new air conditioning system and new roof. The building leasing amenities have been extensively upgraded including a new restaurant, a high-end fitness center and a major upgrade to the parking building’s parking garage. Tenant corridors are being renovated to include new lighting, carpeting, and bathroom upgrades.

Valet Waste is a TBBJ Coolest Office Space Winner!

Valet Waste, LLC, the nation’s leading provider of doorstep trash and recycling collection services, relocated their corporate headquarters to Wells Fargo Center in downtown Tampa late last year.  Valet Waste wanted to provide employees with a place where they could enjoy working.  “With our leases nearing expiration at previous location, we wanted to increase our efficiency and collaboration by consolidating all of our 40+ corporate employees onto one floor,” stated Bill Clarke, the company’s Chief Financial Officer.  We’d say the succeeded!

Wells Fargo Center Reaches 93% Occupancy for the First Time in Two Decades

It took the new ownership only 13 months to bring occupancy at Wells Fargo Center in downtown Tampa to over 90%.  The signature office tower reached 93% occupancy with over 96,000 square feet of leases since Feldman Equities and Tower Realty Partners purchased the Class A office building in January of 2013.  Larry Feldman, CEO of Feldman Equities who is a co-owner of the building, spearheads leasing efforts.  He attributes their leasing success to aggressive rental rates and the recent renovations to the building.  “Prospects and tenants have responded favorably to our newest amenities including a state-of the-art fitness center, conference room with a 90” TV and a modern café and internet lounge,” according to Feldman.

Recent leases include six new leases totaling over 22,000 square feet.

  • Regus leased approximately 13,000 square feet. The deal was co- broker by Michael Fisher of CBRE.
  • Hamilton, Miller & Birthisel, LLP, Florida trial attorneys, expanded by approximately 3,700 square feet.
  • LGI Homes, a publicly traded national homebuilder, leased approximately 2,000 square feet.

The deal was co-brokered by Josh Dohring of the Dohring Group.

  • The American Lung Association leased 1,600 square feet. The deal was co-brokered by Howard Lee.
  • Attorney Bryan Rotella leased approximately 1,000 square feet. The deal was co-brokered by Matt Watson of Cardinal Point.
  • Bordes LLC leased approximately 1,000 square feet.

Wells Fargo Center has recently undergone a multi-million dollar renovation involving the modernizing of the building systems and infrastructure including an enitirely new air conditioning system and new roof. The building leasing amenities have been extensively upgraded including a new restaurant, a high-end fitness center and a major upgrade to the parking building’s parking garage. Ownership is installing an all new elevator system which will be completed in 2014.  The corridor renovations will include new lighting, new carpeting, and bathroom upgrades.

Located near the Tampa Convention Center in downtown Tampa, the 22-story, 388,000 square foot Wells Fargo Center is one of Tampa’s premier Class A office buildings with unimpeded views of Hillsborough Bay, the Hillsborough River and the Downtown Tampa skyline.  It is anchored by Wells Fargo & Company, Phelps Dunbar and UBS.

Over the last 20 years, Feldman Equities and Tower Realty Partners have successfully acquired and renovated millions of square feet of underperforming office buildings. In addition to bringing Wells Fargo Center to 93% leased, the joint venture has brought Fountain Square II in Tampa’s Westshore Business District from 70% to over 97% leased and City Center in downtown St. Petersburg from 44% to over 94% occupancy.  These goals were accomplished within a little over two years following the acquisition of the assets.

Wells Fargo Center Reaches 93% Occupancy- In the Press

Wells Fargo Center Reaches 93% OccupancyWells Fargo Center at 100 S. Ashley Dr. in Tampa, FL has reached 93 percent occupancy, its highest level in more than two decades, following six recent leases signed at the office tower. Feldman Equities and Tower Realty Partners purchased the asset in December 2012 for $44.8 million, according to CoStar data. Aggressive rental rates and recent renovations and a capital improvement program have led to over 96,000 square feet in lease deals over the past 13 months. The multi-million dollar renovations modernized buildings systems and infrastructure including a new air conditioning system and a new roof. Leasing amenities now include a new restaurant, high-end fitness center, upgrades to the parking garage, ongoing corridor renovations and bathroom upgrades, and a new elevator system to be completed in 2014. Recent lease deals include six new leases totaling more than 22,000 square feet. Regus leased approximately 13,000 square feet. The deal was co-brokered by Michael Fisher of CBRE. Hamilton Miller & Birthisel LLP, Florida trial attorneys, expanded by approximately 3,700 square feet. LGI Homes, a publicly traded national homebuilder, leased approximately 2,000 square feet. The deal was co-brokered by Josh Dohring of the Dohring Group. The American Lung Association leased 1,600 square feet. The deal was co-brokered by Howard Lee. Attorney Bryan Rotella leased approximately 1,000 square feet. The deal was co-brokered by Matt Watson of Cardinal Point. Bordes LLC leased approximately 1,000 square feet. “Prospects and tenants have responded favorably to our newest amenities, including a state-of the-art fitness center, conference room with a 90-inch TV, and a modern café and internet lounge,” according to Larry Feldman, CEO of Feldman Equities, who spearheads leasing efforts for the ownership group. The 22-story, 387,477-square-foot, 4-Star office tower was built in 1984 on 1.2 acres in the Tampa CBD submarket of Hillsborough County, near the Tampa Convention Center. Anchored by Wells Fargo & Company, Phelps Dunbar, and UBS, the tower features views of Hillsborough Bay, the Hillsborough River, and the downtown skyline. Feldman Equities and Tower Realty Partners have successfully partnered several times over the past 20 years, acquiring and renovating underperforming office buildings, including the improvement of Fountain Square II in Tampa’s Westshore Business District from 70% to over 97% leased, and City Center in downtown St. Petersburg from 44% to over 94% occupancy, both within two years of acquisition.

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