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Commercial Real Estate
Business Observer Friday, May 17, 2019 1 week ago

Building Spotlight -- 100 N. Tampa St.

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Tampa's youngest skyscraper could have a new owner soon.
by: Kevin McQuaid Commercial Real Estate Editor

100 N. Tampa St.

 

Completed in June 1992 and the last office tower to be developed in downtown Tampa, 100 N. Tampa St. is a structure without parallel along the Gulf Coast in many ways. From its distinction as the tallest building downtown to its consistent occupancy over 90% to its raft of top environmental awards, the 42-story skyscraper stands out.

In honor of owner Prudential Real Estate’s plan to sell 100 N. Tampa St., check out what else makes the building — which commercial real estate brokerage Holliday Fenoglio Fowler L.P. describes in an offering summary as “one of the Southeast’s premier office towers” — so superlative. (Hint: It’s not just the potential record price, either.)

 

 

552,610

Total rentable square footage. Gross square footage tops out at over 900,000.

 

92%

 Percentage occupied at present. Key tenants include law firms Holland & Knight and Foley & Lardner; accounting firm KPMG; insurer AIG; investment firm Morgan Stanley; and Regions Bank.

 

579

Height of 100 N. Tampa, in feet. The building sits on .75 acres of land.

 

$375

Amount per square foot HFF is seeking via a sale of the property, which would generate a record $207 million for owner Prudential Real Estate. The affiliate of the New Jersey insurance giant paid a reported $127 million in June 2007.

 

Designer: HKS Architects

Developer: Paragon Group and AIG Real Estate Investment & Management

General Contractor: Beers Construction

Leasing and Management: Cushman & Wakefield

 

35 million

Weight of 100 N. Tampa’s nine-foot-thick foundation, in pounds. Enough concrete was used in laying the foundation to pave a two-lane road for three miles.

 

360

Building Owners and Managers Association designation given to 100 N. Tampa in 2016 for meeting a series of stringent environmental benchmarks. The building in 2009 and again in 2014 was recognized by the U.S. Green Building Council for its “Leadership in Energy and Environmental Design” efforts, and the U.S. Environmental Protection Agency and Department of Energy awarded the building with an Energy Star designation.

 

$8.3 million

Amount Prudential has spent on capital improvements to 100 N. Tampa since 2014 to upgrade the building’s elevator system and roof, among other projects.

 

$30.84

Average rental rate, per square foot, tenants in 100 N. Tampa pay, a figure 91% less than the $59 per square foot developer Strategic Property Partners is expected to seek in rents for its planned 1001 Water St. office building upon completion in 2021.

 

 

 

 

 

Sources: HFF, Cushman & Wakefield, 100 N. Tampa website

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