Tuesday, November 20, 2018
Business

Park Tower building in downtown Tampa to be upgraded

TAMPA — Park Tower in downtown Tampa is about to get some serious upgrades.

Formerly known as the Lykes Building at 400 N. Tampa St., the 36-story building will undergo a multi-million-dollar renovation which is expected to be completed by early 2018, according to a press release.

In November, developers City Office, Feldman Equities and Tower Realty Partners purchased Park Tower through a joint venture partnership for $79.75 million. These companies have partnered together previously to renovate other office buildings in the Florida market, including in downtown St. Petersburg.

Soon the public will notice changes in the 475,000-square-foot building's facade. Park Tower will be painted a lighter color, a new entrance will be constructed and it will feature a "light box" that will illuminate the office tower against Tampa's Riverfront skyline. Building amenities will also be upgraded, including a renovation of the lobby. Other renovations include adding a cafe to the lobby, a 6th floor "chill zone" tenant lounge, a new fitness center and yoga room with spin bikes, new shared tenant conference rooms and an updated parking garage.

"The renovation of Park Tower will use glass and light to reposition this prominent historic structure as one of the most notable and exciting buildings on Tampa's skyline," said James Farrar, CEO of City Office, in a statement.

Previous Coverage: Downtown St. Petersburg's tallest tower, Priatek Plaza, has a new owner

International architect and design firm, Gensler & Associates, will create the exterior facade and building amenities.

"We are taking full advantage of Park Tower's location across from the Tampa Riverwalk," said Larry Feldman, CEO of Feldman Equities, in a statement. "The removal of high perimeter walls and installation of stunning glass storefronts with bright lighting will immediately announce the entrance and make it inviting to the streetscape."

The new amenities are meant to lure new and vibrant office tenants to downtown Tampa along the city's Riverwalk.

"Park Tower currently has full floor availability, including a full floor of just-built, move-in ready spec suites. This is a great opportunity for tenants of all sizes to move into the heart of downtown," said Mike DiBlasi, Feldman Equities executive vice president for leasing and marketing in a statement.

Park Tower was the tallest building in the state when it was built in 1973. It remained the tallest building in Tampa until 1981, when One Tampa City Center was built. The building was originally the headquarters of the The First National Bank of Tampa, and later First National Bank of Florida. It served as offices for Lykes Bros. Corp. and also housed the former Colonial Bank. It is now area headquarters for BB&T, whose named appears atop the tower.

Contact Justine Griffin at [email protected] or (727) 893-8467. Follow @SunBizGriffin.

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