Currently, Feldman Equities is embarked upon an aggressive program to acquire distressed office assets located in the greater Tampa Bay market. Typical candidates for acquisition are office buildings with a minimum size of 100,000 square feet. “In our local market, we have our finger on the pulse of the industry. We love to bring undervalued assets to life. We do this through a program of extensive renovation — both cosmetic and structural, if needed — followed by an aggressive marketing approach to leasing.”
Feldman Equities brought its focus to the Tampa Bay market in January of 2011. Since that time, the company purchased nearly one million square feet of office space in four prominent office properties. Recent successes in Tampa Bay include bringing Wells Fargo Center in downtown Tampa from 75% to 94% leased, Fountain Square II in Tampa’s Westshore Business District from 69% to over 99% leased and City Center in downtown St. Petersburg from 44% to over 94% occupancy. These goals were accomplished within a little over two years following the acquisition of each the assets. The joint venture’s most recent acquisition Morgan Stanley Tower in downtown St. Petersburg has gone from 65% to over nearly 90% leased in less than a year.