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Commercial Real Estate
Business Observer Friday, Jun. 28, 2019 2 months ago

Farley White reaffirms CBRE at Fifth Third Center

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Renewed leasing effort comes amid $3 million in renovations
by: Kevin McQuaid Commercial Real Estate Editor

Farley White Interests has reaffirmed its commitment to commercial real estate brokerage firm CBRE Group as the leasing agent for its 19-story Fifth Third Center office building in downtown Tampa.

The Boston-based landlord’s decision to stick with CBRE, which had leased the property since Farley White’s $52.5 million purchase in October 2017, comes amid a more than $3 million renovation effort.

The 281,187-square-foot building, at 201 E. Kennedy Blvd., is roughly 84% occupied.

“This property is literally in the heart of our downtown core, blocks away from the University of Tampa, the Riverwalk and anchors the most active intersection and one of the largest green spaces our downtown has to offer,” says CBRE Senior Vice President KC Tenukas, who together with the firm’s Matt Watson will handle leasing efforts going forward.

For much of the past year, Farley White has been improving the building’s common areas, lobby, parking garage, elevators, stairways and heating, ventilation and air conditioning systems. It has also added a new fitness center within the building.

Thus far this year, CBRE has leased or renewed commitments for 22,000 square feet in Fifth Third Center, where the primary tenants are Fifth Third Bank, Skoda Minotti and law firm Marshall, Dennehey Warner Coleman & Goggin, among others.

John Power, a Farley White principal, says the firm stuck with CBRE because of its “global reach and marketwide impact” as well as the business relationships it has forged and maintains.

“In today’s real estate world, it’s all about providing your customers with reasons to stay in your buildings or to come to them,” says Power.

 

 

 

 

 

 

 

 

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