by Brianna Crandall — November 23, 2016 — A joint venture consisting of affiliates of NYSE-listed City Office REIT (Real Estate Investment Trust), Feldman Equities LLC, and Tower Realty Partners has acquired Park Tower, a 36-story, 475,000-square-foot office tower located in Downtown Tampa, Florida. The joint venture purchased the high-rise for $79.75 million.
Tampa’s first high-rise office tower, Park Tower is a 36-story, 475,000-square-foot office high-rise located in Downtown Tampa, Florida, rated LEED EB Gold and 98 percent from Energy Star.
The joint venture intends to make a substantial investment in the property to modernize the 458-foot-high building, said to be Tampa’s first high-rise office tower and built in 1973, to maximize its value at the forefront of the Downtown’s revitalization. The skyscraper is approximately 86 percent leased. Its anchor tenants include BB&T, United States Department of Justice – US Attorney’s Office, Level 3 Communications, and Lykes Insurance.
According to the Park Tower Web site, the energy-efficient high-rise office tower is already the only building in Florida to earn both the LEED EB Gold sustainability certification and the 98 percent rating from Energy Star, and it offers an enhanced energy infrastructure, upgraded mechanical systems, and an amenity-rich environment. Tenants also participate in building-sponsored sustainability programs and in turn benefit from a healthier workplace and better business performance and overall value.
Park Tower is said to offer spectacular views of Hillsborough Bay, the Hillsborough River, and the Downtown Tampa skyline. For more information visit the Park Tower Web site or the project page on Emporis or CTBUH’s The Skyscraper Center.
