C&W to Lease, Manage St. Petersburg’s Tallest Office Tower
- Jun 08, 2017
Cushman & Wakefield has been awarded the exclusive leasing and management assignment of Priatek Plaza, a Class A, 305,370-square-foot office tower in Downtown St. Petersburg, Fla. and Pinellas County’s tallest building. Third Lake Capital LLC recently purchased the property, public records show.
Senior Director Barry Hanerfeld and Director Wendy Giffin will spearhead leasing efforts at the 28-story building, while Cushman & Wakefield’s Florida Asset Services Group will oversee property management. Previously owned by Kucera Properties and formerly known as NationsBank Tower, Bank of America Tower, Barnett Bank Tower and One Progress Plaza, the property features newly renovated common areas, executive suites, tiled balconies, advanced security, energy and safety systems. Other amenities at Priatek Plaza include high-speed exterior glass elevators, a 40-foot atrium lobby, reserved covered parking, a 1,000-space parking garage with a climate-controlled sky bridge and on-site retail.
Located at 200 Central Ave., the office building encompasses an entire city block in St. Petersburg Central Business District and was completed in 1990. It is currently 76 percent leased, with asking rates of $28 to $34 per square foot on five- to 10-year leases and suites range up to 30,000 square feet of contiguous space. Notable tenants include Priatek, Bank of Tampa, Raymond James, Merrill Lynch, Serve Virtual Enterprises, iQor and Trenam Law.
“Priatek Plaza is the premier office asset in Pinellas County and an iconic beacon of the St. Petersburg skyline,” said Hanerfeld, in a prepared statement. “We anticipate tremendous demand for space here due to the unmatched location, premium amenities and prevailing trends in the Pinellas County office market.”
Priatek Plaza is within walking distance of several restaurants, retail businesses, recreational venues and municipal service providers. The location offers direct access to I-275, Pinellas County’s primary north-south thoroughfare.
“We are excited to be making another substantial investment in downtown St. Petersburg and are delighted to have selected Cushman & Wakefield to work with us to lease and manage this building,” said Ken Jones, chairman & CEO of Third Lake Capital, in prepared remarks. “We strongly believe in the vibrancy and vitality of St. Petersburg and are thrilled to own a first-class building for businesses, employees and residents to enjoy a top-notch live-work-play environment.”
Image courtesy of Yardi Matrix