A 242,000-square-foot office building in St. Petersburg is slated for a multi-million dollar renovation. Feldman Equities and Tower Realty Partners jointly own the building.
City Center on Second Avenue South was built in 1985 and has received previous touchups in 2005, 2011, and 2012. It is 88% occupied.
The Tampa Bay Business Journal reports that the vacancy rate in St. Pete’s office market was just under 12% at the end of the first quarter, making it one of the nation’s strongest.
The lobby has been redesigned, and a new and expanded fitness center will feature state-of-the-art equipment, showers and lockers. There will also be a new conference center with 50 seats and a coffee and espresso bar. The upgrade also includes lounge seating, bathrooms and landscaping.
Entos Design is the architect for the project.
Renovations are expected to be completed by February 2025.
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