Wells Fargo Center in downtown Tampa sold for $120 million

The office tower at 100 S Ashley Drive has been sold to New York real estate investment firm the Feil Organization for $120 million, according to Hillsborough County records.

The seller was a group of investors led by Feldman Equities — which is headquartered in the building — and Orlando’s Tower Realty Partners. Those groups purchased the 22-story, 393,649-square-foot tower in 2012 for $44.8 million and pumped in $8.4 million in improvements; the property’s ownership was reshuffled in a 2014 deal worth $78 million.

The building, which is 93 percent leased, counts among its tenants Wells Fargo Bank and law firms Carlton Fields and Phelps Dunbar. Its rose and bronze facade and angular design stand out in Tampa’s skyline.

“We are excited to acquire a class A iconic property in downtown Tampa, which expands on our portfolio in the Tampa/St. Petersburg region,” Brian Feil, executive vice president at the Feil Organization, said in a statement. “We will continue to run the property at the high standards set by the prior owner.”

Dale Peterson, the senior vice president of CBRE Capital Markets, which facilitated the deal, said in a statement that the sale reflects downtown Tampa’s “robust leasing activity and strong rent growth which continues to fuel investor demand.”

“The property’s exceptional quality and position within our best submarket allowed us to successfully execute this sale in light of the turmoil in the capital markets and in a rising interest rate environment,” Peterson said.