By Balazs Szekely, Associate Editor
The 17-story, 190,000 square-foot Morgan Stanley Tower office building in St. Petersburg, owned by affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partner, has reached full occupancy. CEO Larry Feldman of Feldman Equities is in charge of leasing and redevelopment duties, while Tower Realty Partners handles management responsibilities.
When the joint venture acquired the building two years ago, it was 65 percent occupied. The group has carried out a multimillion dollar renovation at the building since then, and executed nearly 70,000 square feet of leases. The latest 1,700-square-foot lease with Paradise Marketing was brokered by Director Melanie Jackson of Colliers International’s Brokerage Services group in Clearwater. Other notable deals have included Morgan Stanley, Enstar, Capital Resorts and RE/MAX Metro
This has been the second office building the joint venture has renovated and brought to 100 percent occupancy in downtown St. Petersburg. The 242,000-square-foot City Center also reached the milestone this year, following a similar path: the ownership increased occupancy from 44 to 100 percent in about two years after a major renovation.
Photo credit: Morgan Stanley Tower