Thursday, June 21, 2018
Business

Morgan Stanley to rename office tower across from former BayWalk

ST. PETERSBURG — The downtown office tower across from the former BayWalk plaza will soon have a new name: Morgan Stanley Tower.

Formerly called Wells Fargo Plaza, the 17-story tower at 150 Second Ave. N will house offices for the financial services giant beginning in May.

The tower's former anchor tenant, Wells Fargo, moved out of 22,000 square feet of the 187,000-square-foot tower in June. Morgan Stanley is expected to consolidate local legal and brokerage offices into a similar-sized space there this year.

The tower also includes offices for financial services firm UBS, investment manager Manning & Napier, and the Edwards Group, Bill Edwards' firm. His Shops at St. Pete entertainment plaza, formerly BayWalk, is slated to open across the street this spring.

In August, the tower sold for $20 million to St. Petersburg commercial real estate developer and owner Feldman Equities, Orlando investment firm Tower Realty Partners and Vancouver private-equity firm Second City Capital Partners. That joint venture also owns the downtown City Center office complex at 100 Second Ave. S.

In advertising for a new anchor shortly after Wells Fargo's departure, Feldman said the tower would receive several million dollars in renovations and offered a new tenant "naming rights along with stunning water views of Tampa Bay."

Terms of the deal, including price and length of lease, were not released.

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