Recent Lease Transactions at Fountain Square II Exceed 90,000 Square Feet
October 12, 2012, TAMPA, FL – Just months after moving into new offices ConnectWise, Inc., one of the region’s largest software vendors, is expanding once again. This time the company has leased 35,000 square feet at Fountain Square II, a Class A office building located near its national headquarters at Independence Parkway and the Veterans Expressway.
ConnectWise, which will occupy the entire fourth floor at Fountain Square II, has been ranked on the annual Inc. 500|5000, Inc. Magazine’s exclusive ranking of the nation’s fastest-growing private companies for five consecutive years.
The deal which was brokered by Jimmy Garvey and Joe Taggart of CLW, brings the building occupancy to over 97%. Co-owner, Larry Feldman, CEO of Feldman Equities, Inc. stated “This new long-term lease with ConnectWise builds upon the already solid foundation of the Fountain Square II tenant base, stated Feldman. In less than two years since the building was purchased, we’ve signed 42,000 square feet of new leases and we’re entered into nearly 50,000 square feet of lease renewals. Recently, a wholly owned subsidiary of Humana Insurance, CarePlus, signed a long term lease for 40,000 square feet. The Humana lease extension includes a 5,000 square foot expansion. Parsons Engineering, a national tenant, has also entered into a long term lease extension.”
“We’re excited to expand our office location once again, to better serve the needs of the growing ConnectWise Capital employee and partner base,” said Arnie Bellini, CEO of ConnectWise. “The Fountain Square II office location is ideally located just steps from our headquarters at Independence Parkway and the Veterans Expressway. This new space will accommodate the increasing needs of our companies as we continue to grow.”
Fountain Square II was acquired early last year by New York-based Feldman Equities Inc and Maitland-based Tower Realty Partners Inc in a joint venture with TriGate Capital. The 134,000-square-foot office building is located in Tampa’s Westshore Business District, part of the Fountain Square Office Park located at Independence Parkway and the Veterans Expressway. More information about the building can be found at www.fountainsquare2.com
Designed exclusively for the IT Channel, ConnectWise is the leading business management solution for service providers, MSPs, technology consultants, integrators, and developers. Today more than 69,000 IT professionals rely on ConnectWise to achieve greater accountability, operational efficiency and profitability. ConnectWise fully integrates CRM, sales, help desk ticket and tracking, project tracking, IT service management, SLAs, dispatch scheduling, mobile IT services, time and expenses into singular IT management software to dramatically streamline IT companies. Over the last 29 years, ConnectWise has become the premier business operating system for IT solution providers. ConnectWise APIs are accessed by over 300 organizations, including ConnectWise partners and industry leaders of the IT Nation. For more information visit www.ConnectWise.com.
About Feldman Equities, Inc
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 11 million square feet of office and retail properties with an aggregate value in excess of $2.5 billion. Mr. 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). Feldman Equities recently acquired the debt on the Class A Fountain Square II office building in Tampa, Florida. Feldman Equities is recognized for its hands-on approach to turning around distressed assets.
About TriGate Capital
Dallas based, TriGate Capital, LLC (TriGate) is a market leading real estate private equity firm focused on acquiring real estate secured debt, providing capital for asset and company recapitalizations, and acquiring real estate assets where the potential to add value exists. TriGate is majority owned and controlled by Jay Henry, Jon Pettee and Jeff Yarckin. Each has over 20 years of experience, including leadership positions at premier investment funds and operating companies, and collectively has been responsible for over $10 billion of real estate investments.
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 3.5 million square feet office property throughout Florida.