How Wells Fargo Center Leased Half of Vacant Space

MIAMI—When Feldman Equities acquired and Tower Realty Partners acquired the Wells Fargo Center in Downtown Tampa in January, the class A office building was 77% occupied. Since then, the companies have leased half the vacant space. The Tampa office tower's owners have inked 58,422 square feet of leases in the last 10 months.

Wells Fargo Center is currently 87% leased. Larry Feldman, CEO of Feldman, who spearheads leasing efforts, attributes the leasing success to aggressive rental rates and the recent renovations to the building: “We make it easy to do deals at our properties. We are very responsive with no cumbersome approval processes.”

Recent deals include five new leases, an expansion and a renewal totaling 46,269 square feet. Valet Waste, a provider of doorstep trash and recycling collection services, leased 17,194 square feet. Co-brokers Mercedes Angel of Cushman & Wakefield and Abbey Dohring of The Dohring Group represented the company in the transaction.

Meanwhile, Glenn Rasmussen, a business law firm founded in Tampa, signed a 14,400-square-foot renewal. Harris & Hunt, P.A. leased 4,893 square feet. The divorce and family law firm was represented by co-brokers John Fish and Scott Garlick of Cushman & Wakefield.

AVI-SPL, a video communications partner, leased 4,882 square feet. The firm was represented by co-broker Jimmy Garvey of Cassidy Turley. Finally, NSource Services leased 1,681 square feet; Metropolis Law leased 957 square feet; and BDG Architects has signed a 2,262 square foot expansion. Located near the Tampa Convention Center in Downtown Tampa, the 22-story, 388,000-square-foot Wells Fargo Center is anchored by Wells Fargo & Company, Phelps Dunbar and UBS.

Wells Fargo Center has recently undergone a multi-million dollar renovation involving the modernizing of the building systems and telecommunications infrastructure. Renovations to the multi-tenant corridors are nearly complete. The corridor renovations include new lighting, new carpeting, and bathroom upgrades. Extensive upgrades to the building's leasing amenities including a new restaurant, a high-end fitness center and a major upgrade to the parking building's parking garage.