Feldman Equities joint venture buys, renovating former Wells Fargo Plaza

BUYER: Second Avenue Tower Limited Partnership (principals: James Ferrar, Ryan Chan and Greg Tylee), Maitland
SELLER: CNL SP Plaza Partners LLC
PROPERTY: 150 Second Ave. N., St. Petersburg
PRICE: $20.01 million
PREVIOUS PRICE: $26.27 million, August 2008
LAW FIRM ON DEED: Lowndes Drosdick Doster Kantor & Reed PA, Orlando

PLANS, DESCRIPTION: A joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners purchased the 17-story 187,000-square-foot former Wells Fargo Plaza office building for $20.01 million.

The price equated to $107 per square foot. That figure is lower than the two-year average price per square foot for office space ($115) in the Tampa Bay area, according to the CoStar Group.