{"id":1004324666,"date":"2019-05-17T07:12:58","date_gmt":"2019-05-17T15:12:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004324666"},"modified":"2019-05-17T07:12:58","modified_gmt":"2019-05-17T15:12:58","slug":"franklin-street-to-lease-metro-tampa-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/franklin-street-to-lease-metro-tampa-office-building\/","title":{"rendered":"Franklin Street to Lease Metro Tampa Office Building"},"content":{"rendered":"
\"490<\/a>

490 First Ave. S. Image courtesy of Franklin Street<\/em><\/p><\/div>\n

Lincoln Property Co. has appointed Franklin Street as exclusive leasing agent for 490 First Ave. S., a Class A office mid-rise in downtown St. Petersburg, Fla. The company acquired the tower, formerly known as the Times building, in December 2018. Yardi Matrix data show the asset was purchased for $39.4 million and the sale was subject to a $28 million loan originated by Synovus Bank.<\/p>\n

Located in the heart of the city, 490 First Ave. S is positioned between Interstate 375 to the north and Interstate 175 to the south, while St. Pete\u2013Clearwater International Airport is within a 19-minute drive via Interstate 275.<\/p>\n

The 239,585-square-foot facility consists of three adjoining five- and eight-story buildings, constructed in 1924, 1968 and 1988 and completely renovated in 2017. The property is currently 90 percent leased with a tenant roster featuring Tampa Bay Times, L3 Commercial Aviation Solutions, Taylor Media and the Bank of the Ozarks. <\/p>\n

Lincoln Property Co. intends to upgrade the building and reposition it as a first-choice location for high-end office users in the Tampa-St. Petersburg market. The planned improvements include a conference facility, fitness center, full elevator modernization, common area Wi-Fi service and an on-site food service provider.<\/p>\n

Senior Director Clay Wommack and Senior Associate Matt Alexander of Franklin Street will handle the leasing management at the property. As of January, Franklin Street also leases a Tampa office campus<\/a> located 20 miles northeast of 490 First Ave. S.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 239,585-square-foot office mid-rise, located in the heart of St. Petersburg, is home to the Tampa Bay Times. The property underwent complete renovation in 2017.<\/p>\n","protected":false},"author":870,"featured_media":1004324669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21742,21747,1612],"tags":[35012,32838,38911],"class_list":["post-1004324666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-latest","category-office","category-tampa","tag-franklin-street","tag-lincoln-property-company","tag-synovus-bank"],"acf":[],"yoast_head":"\nFranklin Street to Lease Metro Tampa Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-to-lease-metro-tampa-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franklin Street to Lease Metro Tampa Office Building\" \/>\n<meta property=\"og:description\" content=\"The 239,585-square-foot office mid-rise, located in the heart of St. Petersburg, is home to the Tampa Bay Times. 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