Tampa CBD Office Tower to Undergo Major Revamp

Fifth Third Center. Image courtesy of Yardi Matrix

Farley White Interests has unveiled plans for a multi-million-dollar capital improvement plan at Fifth Third Center, a 281,187-square-foot office tower in downtown Tampa. The new owner acquired the Class A asset for $52.5 million from Bridge Investment Group in 2017, according to Yardi Matrix.

Located at 201 E. Kennedy Blvd., at the corner of Kennedy Boulevard and Tampa Street, the 19-story building was completed in 1981. The new renovation program includes the addition of a fitness center, common area upgrades and a refurbished main lobby. Fifth Third Center underwent upgrades in 2015 as well, under previous ownership—Terrace Tower Group U.S.A.’s plan included the removal of a granite arch at the main entrance and the addition of 10,000 square feet of speculative office suites, among other improvements.

Fifth Third Center features a conference room, café, upgraded tenant lounge, full-service bank, on-site security, controlled access and attached parking garage. Additionally, the property is connected to Bank of America Plaza through a climate-controlled pedestrian bridge, providing access to numerous amenities, including The Tampa Club.

Growing tenant roster

The tower was 86 percent leased as of March, per Yardi Matrix data. Most recently, CBRE worked on behalf of the landlord in negotiating more than 22,000 square feet in new leases and renewals. CBRE’s Robert Teachey represented tenant Marshall Dennehey Warner Coleman & Goggin in its 10,347-square-foot lease renewal. Riesdorph Reporting Group & Metis Solutions also renewed their commitment totaling some 7,700 square feet.

JLL’s Evan Christiansen assisted The Law Office of Paul M. Sisco in the firm’s relocation to a 1,471-square-foot suite on the fourth floor, from Bank of America Plaza. Another tenant to sign on was Onicx Energy, represented by John DeLaVergne, president at DeLaVergne & Co. Moving from a Westshore location, Onycx secured 2,298 square feet on the 19^th floor.

“Farley White is committed to long-term relationships by working with tenants and brokers to make workplace environments that are distinctive and productive,” said Farley White Principal John Power, in prepared remarks.

Earlier this month, CBRE strengthened its Tampa office leasing team with the addition of two new executives: K.C. Tenukas and Ryan Reynolds both joined the company from Cushman & Wakefield.