The 134,000 square foot office building was leased to 98% occupancy prior to the sale. “In less than two years we signed 42,000 square feet of new leases and nearly 50,000 square feet of lease renewals,” stated Larry Feldman, CEO of Feldman Equities who oversaw leasing efforts for the partnership. “The acquisition and subsequent disposition of Fountain Square II showcased what we do best – turning around underperforming assets,” commented Feldman.
Over the last 20 years, Feldman Equities and Tower Realty Partners, who oversaw management, have successfully joint ventured on the acquisition of millions of square feet of underperforming office buildings. Most recently the joint venture has partnered on Morgan Stanley Tower and City Center in downtown St Petersburg and Wells Fargo Center in downtown Tampa.
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