The latest skyscraper in downtown Tampa to change hands: The Wells Fargo Center.
The office tower at 100 S Ashley Drive has been sold to New York real estate investment firm the Feil Organization for $120 million, according to Hillsborough County records.
The seller was a group of investors led by Feldman Equities — which is headquartered in the building — and Orlando’s Tower Realty Partners. Those groups purchased the 22-story, 393,649-square-foot tower in 2012 for $44.8 million and pumped in $8.4 million in improvements; the property’s ownership was reshuffled in a 2014 deal worth $78 million.
“We are very proud of what we’ve accomplished during our 10 years of ownership of Wells Fargo Center,” Larry Feldman, CEO of Feldman Equities, said in a statement. “Following our acquisition of the building in 2012 we embarked upon a major capital improvement program that completely repositioned the building into one of downtown Tampa’s premier office buildings.”
The building, which is 93 percent leased, counts among its tenants Wells Fargo Bank and law firms Carlton Fields and Phelps Dunbar. Its rose and bronze facade and angular design stand out in Tampa’s skyline.
“We are excited to acquire a class A iconic property in downtown Tampa, which expands on our portfolio in the Tampa/St. Petersburg region,” Brian Feil, executive vice president at the Feil Organization, said in a statement. “We will continue to run the property at the high standards set prior the prior owner.”
Feil’s other Tampa Bay properties include TriPointe Plaza in Tampa’s Westshore District; and the Point at Gateway, the Baypoint Commerce Center and 570 Carillon Parkway in St. Petersburg’s Gateway area.
Dale Peterson, the senior vice president of CBRE Capital Markets, which facilitated the deal, said in a statement that the sale reflects downtown Tampa’s “robust leasing activity and strong rent growth which continues to fuel investor demand.”
“The property’s exceptional quality and position within our best submarket allowed us to successfully execute this sale in light of the turmoil in the capital markets and in a rising interest rate environment,” Peterson said.