Banyan Street Capital and PCCP, LLC, Bring Iconic Downtown Tampa Structure Back to Life, CBRE Welcomes Several New Tenants to Rivergate Tower
Rivergate Tower, the iconic building on Tampa’s downtown skyline, which was purchased by a partnership between Banyan Street Capital and PCCP, LLC in 2015, has undergone a significant transformation. The $13 million renovation project is almost complete and includes a new tenant amenity lounge and conference facility, a 6,000-square-foot, state-of-the-art fitness center, hospitality-style upgrades to the “cube” lobby, a transformed entry, enhanced exterior landscaping, elevator modernization, upgrades to the multi-tenant corridors and HVAC system modernization. The building also provides valet car service.
Roxanne Kemph and Kelley Matheson of CBRE, Rivergate Tower’s leasing team, have seen a lot of activity at the property since they took over the assignment last spring. “The center of downtown Tampa and new development has shifted toward the Riverwalk,” said Ms. Kemph. “The extensive renovations coupled with its location along the Riverwalk, have elevated Rivergate Tower to its rightful place among the top CBD office towers.”
CBRE has signed over 40,000 rentable square feet of new leases in the last few months, including Beaux Arts Group, Autobytel and BDG Architects. It has also seen organic growth with key tenants: A-LIGN CPAs, Mosaic Compliance Services, and law firm Galloway Johnson all signed early renewals and expansions. Northstar Bank signed a long-term early renewal and relocated its retail bank branch to a new and updated location in the tower lobby.
“We are delighted to have had this leasing success during the renovation process,” said Ms. Matheson. “Now that most of the improvements are complete, we look forward to continuing this momentum.”