GSA Signs 13,800 Square Foot Lease
City Center St Petersburg Reaches 93.3% Occupancy with 13,800 Square Foot GSA Lease
City Center ownership group setting sights on achieving 100% occupancy and is actively pursuing new acquisitions
Less than a month after announcing a 26,000 square foot lease with Kobie Marketing, Feldman Equities has executed a 13,800 square foot lease with the GSA (General Services Administration) at City Center St Petersburg.
“When we acquired the property in January of 2011 the building had an effective occupancy of 44%. We’re now over 93% and surging with the recent leasing and renewal activity,” commented Larry Feldman, CEO of Feldman Equities and co-owner of City Center.
Feldman attributes their turn around success to an aggressive pricing program coupled with an extensive renovation program. Given their recent success, the City Center ownership group is setting their sights on achieving 100% occupancy. Ownership is actively pursuing the acquisition of new buildings. Their plan is to purchase under performing assets and invest extensively in new renovations and tenant amenities to attract new tenants.
The GSA will move the technology arm of the Veteran’s Administration from their Bay Pines facility to the City Center office complex in St. Petersburg’s Downtown Central Business District. David Green and Tracy Bibbens with Jones Lang LaSalle brokered the deal.
City Center is owned by a joint venture consisting of affiliates of Second City Capital Partners, Feldman Equities, Inc., and Tower Realty Partners, Inc. . On-site building amenities include a state-of-the-art fitness center complete with shower facilities, a full time concierge , Nature’s Table Café, a large conference center capable of seating 65 people with Wi-Fi and audiovisual equipment, on-site banking and a recently renovated six-story parking garage. These amenities are in addition to all of the waterfront retail and dining options located within walking distance. More information can be found on the City Center website www.citycenterstpete.com
