Feldman Arranges New Lease at Tampa Office Tower

The new tenant will relocate its headquarters later this year and will occupy the 18th floor of the office building which is currently under renovation.

Park Tower
Park Tower

Feldman Equities has signed a new lease with CAPTRUST Advisors LLC at Park Tower, a 475,000-square-foot office tower in downtown Tampa. The tenant will relocate its headquarters and will occupy an approximately 10,500-square-foot space at the Class A building.

Located at 400 N. Tampa St., Park Tower is currently undergoing an expansive renovation program anticipated for completion in the first quarter of 2018. CAPTRUST will occupy Park Tower’s 18th floor and will relocate to its new space later this year, after almost 20 years in the CAPTRUST building at 102 W. Whiting St. That property is scheduled for demolition as part of Feldman’s Riverwalk development.

Appealing amenity base

The 36-story property features on-site management and building engineers, on-site parking garage with electric vehicle charging stations and visitor parking. Notable anchor tenants include BB&T and Level 3. In addition to exterior renovations, ownership plans to add new tenant amenities such as lobby café with seating, a tenant lounge, fitness center and yoga room, conference room and a new lobby concierge desk. Park Tower currently has full-floor availabilities, including an entire floor of just-built, move-in-ready spec suites.

“The plan to reposition this historic structure as one of the most notable and exciting buildings on Tampa’s skyline is resonating with prospects. We are seeing interest from quality-conscious firms for whom high-end finishes and amenities are a must,” said Mike DiBlasi, executive vice president of leasing and marketing at Feldman Equities, in prepared remarks. “We’ve had a lot of interest in the spec suites which are nearing completion,” said DiBlasi. “I’m not sure what has impressed prospects more—the views or the renovation plan.”

Doug Bartley, partner at Commercial Advisory Services, represented the tenant in the lease negotiations.

Eric Bailey, managing principal at CAPTRUST—which provides investment consulting services to institutional investors, corporate retirement plans and family offices—commented on the renovation plan.

“CAPTRUST is excited to modernize our offices and relocate into the center of downtown Tampa in Park Tower,” said Bailey. “The new facade and chic upgrades will be a refresh for CAPTRUST and a focal point near the Riverwalk and major corridors in Tampa.”

Image courtesy of Yardi Matrix