We’ve Added Downtown Tampa’s Park Tower to Our Portfolio


Park TowerA joint venture consisting of affiliates of NYSE listed City Office REIT (NYSE: CIO), Feldman Equities LLC, and Tower Realty Partners has acquired Park Tower, a 36-story, 475,000 square foot office building located in downtown Tampa.  The joint venture purchased the office building for $79.75 million.

The joint venture intends to make a substantial investment in the property to modernize the building.  The building is approximately 86% leased. Its anchor tenants include BB&T, United States Department of Justice – US Attorney’s Office, Level 3 Communications, and Lykes Insurance.

City Office REIT currently owns approximately 1.0 million square feet of office properties in the Tampa Bay market.  “We are strong believers in the Tampa Bay market with its tremendous job and population growth and are excited to add Park Tower to our expanding portfolio,” commented Jamie Farrar, CEO of City Office REIT.

“As with our other downtown acquisitions, this is yet another opportunity for us to do what we do best – renovating and upgrading office buildings in order to maximize their value,” commented co-owner Larry Feldman, CEO of Feldman Equities.    Mike DiBlasi, Feldman Equities Executive Vice President for Leasing and Marketing, will lead leasing efforts. “Located at the corner of Kennedy Blvd. and Tampa St., Park Tower sits on the most important intersection in Tampa. This is a great opportunity for a tenant looking to move into the heart of downtown,” said DiBlasi.  Park Tower offers spectacular views of Hillsborough Bay, the Hillsborough River, and the Downtown Tampa skyline.

“Downtown Tampa is undergoing a remarkable revitalization with numerous residential developments and the emergence of the Tampa Riverwalk entertainment district,” stated Feldman. “We are elated to be at the forefront of the downtown’s revitalization.”

About City Office REIT, Inc.  http://www.cityofficereit.com/

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading markets in the Southern and Western United States. City Office currently owns or has an interest in 4.0 million square feet of office properties. Additional information about City Office is available on the Company’s website at www.cityofficereit.com.  The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

About Feldman Equities, LLC  www.feldmanequities.com

Over the past 30 years, Feldman Equities has developed or acquired over eleven million square feet of office and retail properties with an aggregate value in excess of $3.0 billion. Feldman is a “re-inventor” of the office building and specializes in turning around distressed office assets. Feldman Equities and its partners own and manage 1.6 million square feet of office space in downtown Tampa and downtown St. Petersburg.

About Tower Realty Partners  www.towerrealtypartners.com

Tower Realty Partners is a privately held, commercial real estate investment & management company based in Orlando, Florida. Founded in 1987 by principals Cliff Stein & Reid Berman, Tower Realty partners has been involved in the acquisition, leasing, and management of over 20 million square feet of real estate totaling in excess of $1.6 billion in transactions.


Real Estate Leasing Veteran Mike DiBlasi & Financial Analyst Mahmoud Mihanyar Join Feldman Equities

With an eye towards an ever expanding real estate portfolio including development and acquisition Feldman Equities continues to add to its Tampa Bay staff.  Just weeks after bringing aboard Mack Feldman and Jonathan Schneider, Feldman has hired real estate leasing powerhouse Mike DiBlasi and financial analyst Mahmoud Mihanyar.

Mike DiBlasi

Mike DiBlasi

As Executive Vice President of Leasing and Marketing, Mike DiBlasi will head all leasing activity for the 1.3 million square foot office building portfolio owned and under development by Feldman Equities and Tower Realty Partners in Tampa Bay.  His role will also include leasing oversight of acquisitions and third-party leasing assignments.

Feldman Equities CEO Larry Feldman, who attributes the company’s success to smart risk-taking, found a like-minded hire in DiBlasi who advises those getting into the business to take risks when you are young. “I started my career as a CPA and after five years, left that salary and security for the opportunity to enter the commissionable world of commercial real estate brokerage, “ said DiBlasi. “I took a risk and it paid off.  After 10 successful years in the business I’m embarking on yet another incredible opportunity.”

DiBlasi has spent the past seven years as Senior Leasing Director for Liberty Property Trust’s 4.2 million square foot Tampa portfolio of office, flex and industrial properties. Prior to joining Liberty he spent three years as a broker with Cushman & Wakefield.


Mahmoud Mihanyar

Mahmoud Mihanyar

Financial Analyst Mahmoud Mihanyar[ Feldman also brings on board Financial Analyst Mahmoud Mihanyar a recent graduate of Hough Graduate School of Business at the University of Florida where he earned a Master of Science in Real Estate. Prior to entering the program he managed a small construction company in Daytona Beach, FL. Mihanyar also attended the University of Florida’s College of Design and Construction earning a Bachelor of Design in Architecture. “With his design and construction background Mahmoud brings a specific understanding to real estate finance,” said Feldman. “Lease transactions, development, acquisition…we plan on keeping Mahmoud busy.”


New Hires at Feldman Equities!

With a 1.1 million square foot Tampa Bay commercial real estate portfolio and a 52-story downtown Tampa mixed-use tower development in the works Feldman is expanding his staff.  Larry Feldman, CEO of Feldman Equities, LLC, entered the family business nearly four decades ago when his father turned over a New York real estate project to him. His father, Edward Feldman, in turn had been brought in to the business by his father, HJ Feldman, who started the family business in 1920.   It’s now time for the 4th generation.  Mack Feldman has joined his father at Feldman Equities. A 2015 graduate of Georgetown University, Mack cut his teeth working on the Jeb 2016 political campaign in Miami. He has since relocated to downtown St. Petersburg where Feldman owns a three building office portfolio.

Mack who describes his responsibilities as assistant to the CEO and fledgling leasing assistant will be learning the business under his father’s guidance. As the economy and commercial real estate development focuses on the millennial workforce who better to bring under his wing than his millennial son. “I’m thrilled to have Mack join the business. He shares our family’s affinity for smart risk taking. Risk taking is what real estate development is about. Risk taking combined with very hard work and a willingness to build something special and unique will reap ample reward down the road,” said Larry Feldman.

Mack Feldman Cropped

“I’m joining the business at an exciting time. I get to cut my teeth on Tampa’s first downtown development since 1992. And a 52-story mixed use tower that will change Tampa’s skyline at that,” says Mack Feldman. Development isn’t the only thing on the company’s plate. Acquisitions of quality and distressed office space are a big focus.  “Adding value through project renovations and aggressive leasing, taking risks and a lot of hard work…I’m in!”


Mack isn’t the only new hire in the past month.  Jonathan Schneider joins the Feldman team working under Director of Construction & Development Santiago Bartolome with joint venture partner Tower Realty Partners. “We have a lot of construction projects on our plate,” says Bartolome. Every building we acquire gets significant renovation and of course there are all those new tenant build-outs.” The construction team is also actively involved in the design process for the new downtown office tower along Tampa’s Riverwalk.

J Schneider (1)


“Everyone on the Feldman/Tower team is hands-on,” says Schneider. “Working here I feel like I’m getting a master’s degree in construction in a matter of weeks.”

Tampa Selected as Country’s Top Relocation Destination

Realtor.com’s latest relocation study has named Tampa as America’s top relocation destination. According to the new report, Americans are on the move as the country’s economy continues to grow and people are heading south to improve their quality of life and take advantage of Tampa’s affordable housing prices, strong job market, and no income tax status.

Tampa took the top spot in the study above Jacksonville, Charlotte, San Antonio, and Austin, which rounded out the top five, during a time that Realtor.com calls one of the “busiest” relocation periods in recent memory.

Realtor.com was quick to point out that this population shift is not in retirement age people, but among adults who are still in the workforce. The report highlighted that Florida had “unusually strong job creation,” so plentiful job opportunities are driving the trend to relocate to the Sunshine State. In another piece of research, Realtor.com identified Tampa as the third most popular relocation destination for Millennials.

“Attracting fast-growing Millennial-owned companies and young, highly skilled talent to our workforce will fuel our region’s prosperity for decades to come,” said J.P. DuBuque, Interim President & CEO of the Tampa Hillsborough Economic Development Corporation. “With the growing number of financial services and technology-focused companies relocating to and expanding in Tampa, our community is a perfect place for young professionals in industries like these to find their dream job, buy an affordable home, and enjoy an unparalleled quality of life.”

“The Realtor.com study echoes the research we have done,” added DuBuque. “Abundant career opportunities, affordability of housing, lower cost of living and lifestyle are the key factors influencing most Millennials’ relocation decisions. Tampa ticks all of those boxes.”

The report also identified a trend of Americans moving out of large markets in the Northeast and Midwest to move to smaller metros like Tampa to escape the winters and the high cost of living. Tampa’s median home price is $230,000 and its unemployment rate is low at 4.4%. The study also cites New York as the market in the U.S. losing the most population to Florida.

According to C2ER’s Cost of Living Index, Tampa has an average index of 92.6, which makes it the most affordable city when benchmarked against comparable metros. The cost of living in Tampa is less than in Austin, Denver, Raleigh, Charlotte, Orlando, Jacksonville, Atlanta, and Dallas.

The data for the report was compiled from a combination of Census Bureau migration data collected from 2009 to 2013, the number of cross-metro moving requests on Moving.com and cross metro search traffic on Realtor.com.

Link to full report here.

About Tampa Hillsborough Economic Development Corporation
The Tampa Hillsborough EDC works to develop and sustain a thriving local economy through the attraction, retention, and expansion of high-wage jobs and capital investment in Hillsborough County and the cities of Tampa, Plant City, and Temple Terrace. We focus on growing locally established companies as well as recruiting corporate operations in targeted industry sectors including Information Technology, Financial and Professional Services, Life Sciences, Defense and Security, Manufacturing, and Distribution and Logistics. The Tampa Hillsborough Economic Development Corporation exists because of the generous support of over 120 investors from the local community. For more information, visit tampaedc.com.

About Realtor.com
Realtor.com® was developed to provide consumers with a single online resource for all property listings, and for all REALTORS® to have a resource developed for NAR, by NAR. It remains the number one most visited homes-for-sale site, with millions of consumers viewing the website each month. For more information, visithttp://www.realtor.org.

Source:  http://www.prweb.com/releases/2016/06/prweb13455276.htm

We’re Only in the 2nd Inning in Downtown Tampa

“We’re only in the second inning in terms of what’s going to happen in Tampa, & maybe the third inning in what’s going to happen in St. Petersburg,”  Larry Feldman, CEO of Feldman Equities LLC, who together with Tower Realty Partners owns a handful of office buildings in the downtowns of the two cities, including the First Central Tower, Morgan Stanley Tower and City Center building in St. Petersburg and the Wells Fargo Center in Tampa.

Feldman and Tower also are refining designs for Riverwalk Tower, a planned 52-story project that will combine ground-floor retail, upscale residences and Class A office space into Tampa’s first mixed-use tower and the first downtown office building since 1992.

Feldman’s comments came during Pulse 360 Tampa, an event attended by more than 200 on April 21 sponsored by commercial real estate services firm JLL.

A panel packed with JLL executives seemed to agree with Feldman’s assessment.

Jubal Smith, executive vice president of JLL’s business incentives and site selection practice group, noted Tampa ranked 10th in the U.S. between 2010 and 2013 for net in-migration out of 381 statistical metropolitan areas nationwide.

And Juliet Potter, a JLL vice president and its director of research, says Tampa’s fourth quarter growth, year over year, was nearly double that of the U.S. for 2015, the result of economic drivers such as favorable weather and a relative low cost of doing business.


For Real Estate Developers, St Pete’s Tropicana Field has the Potential to be a Home Run

The Tampa Bay Business Journal’s Ashley Gurbal Kritzer  recently asked Larry Feldman his thoughts on the future of St. Petersburg’s Tropicana Field site. To Feldman the Trop property seems perfectly positioned for a redevelopment play that could attract millennials to the city. Office space in particular could make sense for the site. Downtown St. Pete, though traditionally anchored by its entertainment venues, is seeing increased demand for office space, and supply is dwindling. The highway access makes it even more attractive for office development.  It’s a millennial site. Over time if you build enough critical mass there, that it could become a city within a city.

Read the full story here

Riverwalk Tower in the News WTSP Channel 10

Crews are doing the first work at the site of what’s set to be the new tallest building in all of Tampa Bay – Riverwalk Tower. “We expect this to become, like, the 5:30 destination in Downtown.”  Check out this video & the story on WTSP.

Larry Feldman Named to Tampa Bay Business Journal’s 25 People to Watch in 2016 List

It’s going to be a groundbreaking year!  “…it [Riverwalk Tower] will forever transform the Tampa skyline and set a new standard for development in the Bay region,” Tampa Bay Business Journal.

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