“Making a move to new offices on City Center’s 11th floor gives the WTA added space and functionality, with the office’s close proximity to the Tampa International Airport, and is a great financial decision. The combination of location, amenities, space and pricing sealed our decision to relocate to City Center,” said Matt Cenedella, WTA’s Chief Administrative Officer.
“We are very excited to have such a high profile organization come to City Center, stated Larry Feldman, CEO of Feldman Equities, Inc.”Who better than the WTA to exemplify our belief that tenants are looking for office space that provides an overall "live, work and play" experience”. WTA will not only raise the building’s global profile but their employees will add vibrancy to the building.”
City Center’s ownership has secured over 65,000 square feet of new leases in the past year with occupancy rising from 45% to 70%. A comprehensive $8.5 million renovation including an all new first class fitness center and aggressive rental rates have enabled City Center to outperform all other office buildings in downtown St. Petersburg. “City Center has an excellent location and stunning waterfront views. We set out to further distinguish our building from our competitors by installing a series of tenant amenities that would help us attract new tenants such as the WTA and to retain existing tenants,” stated Feldman. Renovation Photo Gallery City Center is owned by a joint venture consisting of affiliates of Second City Capital Partners, Feldman Equities, Inc., and Tower Realty Partners, Inc. More information can be found on the City Center website www.citycenterstpete.com.
John Esposito and Chris Harak of Studley, Inc. represented the tenant. Mr. Esposito adds that “WTA secured a generous concession package and the capacity to grow. City Center management was a pleasure to work with.”
The WTA is the global leader in women’s professional sport with more than 2,500 players representing 92 nations competing for a record $96 million in prize money at the WTA’s 53 events and four Grand Slams in 32 countries. More than 5.2 million people attended women’s tennis events in 2011 with millions more watching on television and digital channels around the world. The 2012 WTA competitive season concludes with the TEB BNP Paribas WTA Championships in Istanbul, Turkey, October 23-28, and the Tournament of Champions in Sofia, Bulgaria, October 30-November 3. Further information on the WTA can be found on www.wtatennis.com.
About Feldman Equities, Inc
Feldman Equities is the modern business entity that encompasses a century of success in commercial real estate development. In the last 25 years, Larry Feldman has developed or acquired over 11 million square feet of office and retail properties with an aggregate value in excess of $2.5 billion. Mr. Feldman gained a national reputation as a property turnaround specialist when he was the Chairman and CEO of the publicly traded Tower Realty Trust, Inc (NYSE: TOW). Feldman Equities recently acquired the debt on the Class A Fountain Square II office building in Tampa, Florida.. Feldman Equities is recognized for its hands-on approach to turning around distressed assets.
About Second City Capital Partners
Second City Capital Partners (“SCCP”) is a private equity company headquartered in Vancouver, British Columbia and is led by investor Sam Belzberg. SCCP is a multi-fund private equity group, targeting mid-market companies and distressed real estate assets across Canada and the United States. SCCP offers investors a range of alternative investment solutions and strategies through a multifaceted venture platform. SCCP seeks controlled buyout structures including minority equity interest positions with trusted partners.
About Tower Realty Partners
Tower Realty Partners is an Orlando-based commercial real estate owner focusing on value-added opportunities throughout the state of Florida. Tower’s principals are Cliff Stein and Reid Berman. Since its inception, Tower has acquired over $1 billion of office properties. Currently, Tower’s assets consist of over 3.5 million square feet office property throughout Florida.
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Feldman Equities, Commercial Real Estate Develoment & Ownership specializing in turning around distressed assets. Feldman Equities has developed or acquired over 11 million SF of office & retail property with an aggregate value in excess of $2.5 billion.