As residential and mixed-use towers continue to reshape downtown St. Petersburg, a quieter yet equally significant transformation is underway: a sharp contraction in the city’s office market.
America has more office space than it knows what to do with. Since the COVID-19 pandemic, companies across the country have cancelled or downsized their leases, leaving landlords scrambling.
A Miami developer is one step closer to building a 49-story, $225 million luxury condominium and office tower called the Waldorf Astoria Residences, which would become the city’s tallest building.
The St. Petersburg City Council, acting as the Community Redevelopment Agency, has approved preliminary plans for the 49-story Waldorf Astoria Residences at 150 2nd Avenue South in downtown St. Petersburg.
Larry Feldman, CEO of Feldman Equities, has been a key player in Tampa Bay’s commercial real estate market since 2009, transforming over 2 million square feet of office space.
Across the U.S., the office market is in tough shape. Sales volumes are down, and new construction has slowed to a crawl. The 18.8% national vacancy rate in April 2024 was a full 210 basis higher than a year earlier, according to data firm CommercialEdge.
Officials with St. Petersburg-based Feldman Equities announced Monday morning that a multi-million-dollar renovation project has commenced at City Center.
Officials with St. Petersburg-based Feldman Equities announced Monday morning that a multi-million-dollar renovation project has commenced at City Center.
Officials with St. Petersburg-based Feldman Equities announced Monday morning that a multi-million-dollar renovation project has commenced at City Center.
Across the U.S., the office market is in tough shape. Sales volumes are down, and new construction has slowed to a crawl. The 18.8% national vacancy rate in April 2024 was a full 210 basis higher than a year earlier, according to data firm CommercialEdge.
