Multi-million-dollar makeover of Park Tower, downtown Tampa’s oldest office tower, unveiled

Park Tower in downtown Tampa has a sleek new aesthetic — and nearly two dozen tenants – since its ownership group kicked off a multimillion-dollar renovation in mid-2017.

Park Tower in downtown Tampa unveils multimillion-dollar makeover (Photos) – Tampa Bay Business Journal

The oldest office tower in downtown Tampa has a sleek new aesthetic – and nearly two dozen new tenants – since its ownership group kicked off a multimillion-dollar renovation in mid-2017. A partnership of City Office REIT, Feldman Equities and Tower Realty Partners acquired Park Tower in downtown Tampa in late 2016 for $79.75 million.

Park Tower Renovation Complete With Significant Occupancy Achievement

Feldman Equities LLC announced the completion of the extensive multi-million dollar renovation at Park Tower in downtown Tampa.  The value-add program executed since the acquisition of the property has generated significant increases in building occupancy and cash flow.  Including signed leases not yet in occupancy, the building is 94% leased, its highest occupancy in over a decade.

The renovation of Park Tower was instrumental in bringing over 22 new firms to the building, 15 of which are new to downtown Tampa. “The use of glass and light combined with a stellar amenities package succeeded in repositioning this prominent historic structure as one of the most notable and exciting buildings on Tampa’s skyline,” stated Larry Feldman, Chief Executive Officer of Feldman Equities.

“Park Tower’s owners investing millions in renovating the city’s original high-rise is just further proof of Tampa’s renaissance,” said Mayor Bob Buckhorn. “Investments like these do not happen every day but what we’re seeing across the city is that not only can we redefine our skyline with new structures but also we can reimagine it with the existing ones.  I look forward to admiring this renovation for years to come.”

In November 2016, a joint venture partnership consisting of City Office REIT, Inc., Feldman Equities and Tower Realty Partners acquired Park Tower for $79.8 million. Since that time, 170,000 square feet of new and renewal leases have been signed, bringing occupancy up from a low of 80% to 94% today.  “The renovation and tenant suite upgrades have completely transformed the building and prospective tenants are responding with high interest,” said Larry Feldman.

The most dramatic change at Park Tower is the modernization of the 471,000 square foot office building’s façade.  In addition to painting the exterior a lighter color, a new and dramatic entrance features a ‘Light Box’ leading into a stunningly renovated lobby, complete with a new Buddy Brew Coffee café. “We love everything about this location and partnership,” said co-owner and CEO of Buddy Brew Coffee, Dave Ward.  The new café’s attractive layout and design feature a cosmopolitan aesthetic and high-end furnishings to match Park Tower’s modernization.

The renovation, designed by internationally-renowned architect Gensler, takes full advantage of Park Tower’s location across from the Tampa Riverwalk. The removal of the concrete knee wall, the installation of glass storefronts with bright lighting and new exterior lighting have made the building much more inviting at the streetscape level.  On the interior, high-quality additions and improvements to common spaces and amenities have been made, including:

  • All new fitness center and yoga room with spin bikes
  • The all new Buddy Brew Coffee café
  • 6th floor “Chill Zone” tenant lounge
  • Shared tenant conference room
  • New lobby concierge desk
  • Renovated parking garage with new LED lighting

www.parktowertampa.com

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading 18-hour cities in the Southern and Western United States. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. Additional information about City Office is available on the Company’s website at www.cityofficereit.com. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

 About Feldman Equities, LLC 

Over the past 30 years, Feldman Equities has developed or acquired over eleven million square feet of office and retail properties with an aggregate value in excess of $3 billion. Feldman is a “re-inventor” of the office building and specializes in turning around distressed office assets. Feldman Equities and its partners own and manage 1.9 million square feet of office space in the Tampa Bay area.

About Tower Realty Partners 

Tower Realty Partners is a privately held, commercial real estate investment & management company based in Orlando, Florida. Founded in 1987 by principals Cliff Stein & Reid Berman, Tower Realty Partners has been involved in the acquisition, leasing, and management of over 20 million square feet of real estate totaling in excess of $1.6 billion in transactions.

Pipeline Tampa Named to Coolest Office Space List

Pipeline Workspaces Tampa’s downtown Park Tower office has been nominated as one of Tampa Bay Business Journal’s Coolest Office Spaces. The office is a high design, shared workspace concept that caters to entrepreneurs, startups, independent professionals and corporate teams. What’s unique about Pipeline is its design mimics the feel and architecture of a historic cigar factory.

 

Tampa Bay’s Coolest Office Spaces: Pipeline Tampa – Tampa Bay Business Journal

Pipeline Workspaces in Tampa is a high design, shared workspace concept that caters to entrepreneurs, startups, independent professionals and corporate teams. Pipeline is membership-based and offers a flexible assortment of private offices, dedicated desks, flexible space, and virtual offices, as well as a café, large event space, lounge, technology-enhanced conference rooms and more, according to its Coolest Office Space submission.


 

83 Degrees Reports on Park Tower Pipeline Workspaces Opening

When co-working space firm Pipeline Workspaces was looking to expand to a seventh location, Tampa made perfect sense.

Co-founder Philippe Houdard says two attractive characteristics in the Tampa market led Pipeline to establish a
Pipeline Tampa Entry Area presence here in September, opening a 15,000-square-foot downtown location on the 15th floor of Park Tower, overlooking the Hillsborough River.

Pipeline opens new co-working space in Downtown Tampa

When co-working space firm Pipeline Workspaces was looking to expand to a seventh location, Tampa made perfect sense. The South Florida-based company already had a strong presence in the Sunshine State, with locations in Miami, Doral, Coral Gables, Fort Lauderdale, and Orlando.

http://www.83degreesmedia.com/devnews/Pipeline-co-working-center-opens-in-downtown-Tampa-021219.aspx

Buddy Brew Coffee getting ready to open at the newly renovated #ParkTower in Tampa’s Downtown

After numerous requests and a little finesse, Buddy Brew Coffee founders Dave and Susan Ward are gearing up to open their latest craft coffee shop in downtown Tampa. The husband-and-wife duo’s sixth location (and sleekest one yet) officially starts keeping the neighborhood caffeinated Monday, Feb. 11.
 
The best part just might be the full-length glass doors that serve as the lobby and street entrances. They make the shop easy to find, which was difficult prior to Park Tower’s multimillion-dollar revamp.
 
“Years ago, people wouldn’t have known about this building if it weren’t for Lucky Dill in the back corner,” Dave said. “Now the space is much more inviting.”
 
The owner of the building, Larry Feldman, wanted to incorporate the community, as Dave puts it, and he knew Buddy Brew could fit the bill.

Buddy Brew Coffee gearing up to open next shop in downtown Tampa

Jenna Rimensnyder After numerous requests and a little finesse, Buddy Brew Coffee founders Dave and Susan Ward are gearing up to open their latest craft coffee shop in downtown Tampa. The husband-and-wife duo’s sixth location (and sleekest one yet) officially starts keeping the neighborhood caffeinated Monday, Feb. 11.

Pipeline Workspaces Opens 7th US Location at Park Tower Downtown Tampa

Pipeline Workspaces has opened its newest location at Park Tower, occupying the entire 15th floor of the 475,000-square-foot office tower in downtown Tampa. The coworking company announced the expansion earlier this year, in March. The new office marks Pipeline’s seventh U.S. location. Located at 400 N. Tampa St., the 36-story building recently underwent a comprehensive renovation program led by Gensler. The architectural firm also spearheaded Pipeline’s office design.

Pipeline Workspaces Opens 7th US Location

The coworking space provider takes up an entire floor at Park Tower in downtown Tampa. Gensler is behind the contemporary concept of the new office.

 

Pipeline Tampa Now Open in Downtown Tampa’s Park Tower

Pipeline Workspaces looks good on you, Tampa! Please join us in welcoming Pipeline to the Park Tower Family. Tampa business owners now have access to their high-design co-working spaces including flex space, dedicated desks and private offices.

Pipeline is located on the 15th floor of Park Tower in the heart of Downtown Tampa, next to the Hillsborough River and Curtis Hixon Waterfront Park. The shared workspace is surrounded by restaurants, cafes, museums and a variety of retail establishments.

Click through the slideshow below of this stunning space. To book a tour to learn more visit the Pipeline website.