Feldman Equities LLC/Tower Realty Partners Reacquire Equity Position in Wells Fargo Center, Downtown Tampa
TAMPA, Fla. – March 25, 2015 – (RealEstateRama) — Feldman Equities LLC and Tower Realty Partners announced today that they have reacquired an equity position in Wells Fargo Center a 22-story, 390,000 square foot office tower located in downtown Tampa. 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.
Located near the Tampa Convention Center in downtown Tampa, 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. Additional building information is available at www.wellsfargocentertampa.com.
About Feldman Equities, LLC
Feldman Equities is the modern business entity that encompasses a century of success in commercial real estate development. In the last 25 years, Larry Feldman has developed or acquired over 12 million square feet of office and retail properties with an aggregate value in excess of $2.5 billion. Feldman Equities is recognized for its hands-on approach to turning around distressed assets. Feldman gained a national reputation as a property turnaround specialist when he was the Chairman and CEO of the publicly traded Tower Realty Trust, Inc. (NYSE: TOW).
About Tower Realty Partners
Tower Realty Partners is an Orlando-based commercial real estate owner focusing on value-added opportunities throughout the state of Florida. Tower’s principals are Cliff Stein and Reid Berman. Since its inception, Tower has acquired over $1 billion of office properties. Currently, Tower’s assets consist of over 4 million square feet office property throughout Florida.
ABOUT CUSHMAN & WAKEFIELD
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has approximately 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has nearly $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
Press Contact
Larry Feldman
CEO, Feldman Equities LLC
lfeldman (at) feldmanequities (dot) com
727-823-1124 x253
