ST PETERSBURG, FLORIDA – In the year since acquiring First Central Tower, Feldman Equities has leased over four full floors at the office building signing seven firms to leases totaling over 100,000 square feet. In the latest deal Regus, the global workplace provider, has leased a full floor, 15,296 square feet, at the building. The long term lease was brokered by Brent Miller and Bryan Rodriguez of JLL. First Central Tower is located in the heart of downtown St. Petersburg on Central Avenue.
In the last year Twinlab Consolidation Corporation (“TCC”) leased two floors while Banker Lopez Gassler PA leased a full floor.
A multi-million dollar renovation is underway at the building with completion expected to occur in the first quarter of 2016. “We are investing $10 million dollars in capital and tenant improvements. Our goal is to transform First Central Tower into a first class office destination,” stated Larry Feldman, CEO of Feldman Equities a co-owner of the building in partnership with Tower Realty Partners. St. Pete is a truly walkable downtown, with 7 museums, over 50 restaurants, a theater for the performing arts, a major league baseball stadium, a soccer stadium and nearly a dozen marinas.
A joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Real Estate acquired First Central Tower, a 17-story, 250,000 square foot office building late last year.
Redevelopment plans for First Central Tower include an extensive lobby renovation, upgraded tenant floor elevator lobbies, tenant corridors and restrooms. In addition, ownership is adding an amenity package which will include a new concierge desk, a state-of-the-art luxury fitness center and conference center. In keeping with current office space trends towards hip, high-tech spaces, one of the lower floors will be converted to a tenant lounge area. The lounge area will be a 24/7 “chill zone” that will have the look and feel of a first class airport lounge. The lounge area will include soft seating, large flat screen TVs, iPad chairs and free WIFI. The building’s air conditioning system is being upgraded. In addition, renovations will include a completely new modern elevator system and new elevator cabs. The parking garage will be upgraded with upgraded lighting, paint and graphics.
First Central Tower is anchored by BB&T Bank whose name tops the building. Tenants on the building’s upper floors enjoy beautiful views of Tampa Bay and the St. Petersburg skyline. Located in the heart of downtown St. Petersburg, First Central Tower sits on the southeast corner of Central Avenue and 4th Street.