Dramatic makeover on tap for downtown Tampa's original office tower
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jun 6, 2017

The oldest office tower in Tampa's urban core will receive a multimillion-dollar facelift in the coming months.

City Office REIT, Tower Realty Partners and Feldman Equities, which acquired Park Tower in late 2016, said Tuesday that they have started construction on an extensive renovation that will transform the building's facade and add a slew of modern amenities. The exterior will be repainted and bright lighting will be added to the ground-floor storefronts; the amenities will include a new fitness center, tenant lounge and high-end cafe. It will also add a "light box" on the corner of Tampa and Madison streets.

"The removal of high perimeter knee walls and installation of stunning glass storefronts with bright lighting will immediately announce the entrance and make it inviting to the streetscape," Feldman Equities CEO Larry Feldman said in a statement.

Park Tower was built at 400 N. Tampa St. in 1973. For years, it's been mostly an afterthought for companies seeking downtown office space, perceived by some as a " low-cost alternative" in the urban core. The completion of the Tampa Riverwalk has shifted the center of downtown toward the urban waterfront, and Park Tower is just a block off the Riverwalk, making it much more desirable than it was even five years ago.

"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," City Office CEO James Farrar said in a statement.

Gensler is the architect on the project.

Between its proximity to the Riverwalk and the planned renovations, the building is in prime position for a renaissance. Large blocks of office space in downtown Tampa are difficult to come by, and Park Tower recently lost a large tenant. Nestle Professional Vitality cut 77 jobs and was to vacate three floors- 43,000 square feet - in May.

"Park Tower currently has full floor availabilities, 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," Mike DiBlasi, executive vice president of leasing for Feldman Equities, said in a statement.

Here's a breakdown of the amenities planned for the tower: