“We’ve had incredible success in Downtown St. Petersburg,” commented Larry Feldman. The self-dubbed re-inventor of office space specializes in bringing undervalued assets to life through extensive renovations including the addition of state-of-the art amenities. “Of course one of the most important amenities has been built into the deals – the incredible downtown St. Petersburg location. St. Pete boasts an expansive urban waterfront, a truly walkable downtown with numerous museums and restaurants, a theater for the performing arts, soccer stadium, and nearly a dozen marinas.”
Three of downtown St. Pete’s most notable office buildings were purchased and renovated by Feldman and his joint venture partners. Over $30 million was spent in renovations, mechanical upgrades and the installation of best-in-class amenities resulting in the successful lease-up of the buildings. Renovations featured stunning new lobbies, two of which were designed by the internationally-renowned architect Gensler. Amenities renovations included the addition of high-end fitness centers, conference centers, Wi-Fi lounges, and cafés. The renovations have helped some of St. Pete’s largest companies attract and retain highly-mobile employees who value trailblazing amenities and cutting-edge building systems.
The renovated buildings welcomed many new businesses to downtown and facilitated the expansion of existing tenants, resulting in near 100% lease-up within two years of acquisition.
Today Morgan Stanley Tower and First Central Tower have select availabilities. The 11th floor of First Central Tower on Central Avenue and a portion of the 17th floor at Morgan Stanley Tower across from The Sundial shops are available. Additional availabilities within the company’s three buildings range upwards from 1,500 square feet.
Feldman Equities continues to expand its local portfolio as the company looks to acquire underperforming office buildings in the Tampa Bay market. Typical candidates for acquisition are office buildings of over 100,000 square feet. In addition to acquisitions, Feldman Equities is building from the ground up. Feldman and its partners are developing Riverwalk Place, an office, retail and luxury residential tower. Riverwalk Place will become the tallest building on the west coast of Florida.
Over the past 30 years, Feldman Equities has developed or acquired over eleven million square feet of office and retail properties with an aggregate value in excess of $3 billion. Feldman Equities and its partners own and manage 1.6 million square feet of office space in downtown St. Petersburg and Tampa.