Adams and Reese Celebrates 30 Years at Morgan Stanley Tower

One of the South’s prominent regional law firms, Adams and Reese, is celebrating 30 years in downtown St. Petersburg at Morgan Stanley Tower. One of the building’s first tenant’s has renewed the firm’s commitment to St. Petersburg and Pinellas County signing a five-year lease renewal. Partners David Bernstein and Jim Dickson have officed at Morgan Stanley Tower for all of those 30 years.

Adams and Reese Partner David Bernstein

Bernstein stated, “We are deeply committed to our St. Petersburg location, our community and our clients. We have enjoyed much success for our clients here over the previous years and have solidified our future to continue to serve St. Petersburg at Morgan Stanley Tower.”Partner in Charge Rick Flowers added: “Our location is convenient for the business community and our office space is an outstanding environment for Adams and Reese and our clients.” 

Adams and Reese 17th Floor Offices

“Anytime a tenant renews it is the ultimate compliment for us,” stated Feldman Equities CEO Larry Feldman who owns the building with joint venture partner Tower Realty Partners. “We spent millions renovating the building upgrading and adding amenities with an eye towards keeping and exceeding the expectations of exceptional tenants like Adams and Reese added Feldman. We appreciate their confidence in our ownership and management. Feldman Equities spearheads leasing responsibilities with Tower Realty Partners handling property management.

About Adams and Reese
Adams and Reese is a multidisciplinary law firm with nearly 300 attorneys and advisors strategically located in 18 offices across 17 markets throughout the southern United States and Washington, D.C. The American Lawyer includes Adams and Reese on its distinguished list of the nation’s top law firms – The Am Law 200. The National Law Journal also includes the firm among the top 200 on the NLJ 500 list of the nation’s largest law firms.

Directed Capital Leases Full Floor at Morgan Stanley Tower

Directed Capital, a private equity firm specializing in acquiring and originating special situation commercial mortgage debt and investing in commercial real estate, will move its headquarters into 13,460 square feet at Morgan Stanley Tower in downtown St. Petersburg.  The firm will double the size of its current headquarters office located just blocks from Morgan Stanley Tower when it relocates later this summer.

Directed Capital CEO, Christopher Moench said, “While the company’s business strategy has always anticipated expansion of staff as our assets under management grow, our recent acquisition of a large FDIC loan portfolio accelerated the need for more office space to accommodate the growth and added employees.  Our new office space in the Class A Morgan Stanley Tower not only meets our growth needs, but will aid in our recruitment and retention of staff.  We will remain active in support of our community and look forward to many years of continued success in our new headquarters.”

Directed Capital expands in downtown St. Pete’s Morgan Stanley Tower – Tampa Bay Business Journal

The full floor that Edwards Group vacated in a downtown St. Petersburg office tower earlier this year has been leased to a growing private equity group. Directed Capital, which specializes in commercial real estate debt and equity, has taken the full 16th floor or 13,460 square feet in the Morgan Stanley Tower, the building’s owner, Feldman Equities, said Wednesday.

Available space at Morgan Stanley Tower has been rare since the building underwent a multi-million renovation. “Just weeks after The Edwards Group announced they would be vacating the 16th floor, we signed a full floor lease commitment with Directed Capital keeping the building at 100% occupancy” said Mike DiBlasi, Feldman Equities Executive Vice President for Leasing and Marketing. “Those waterfront views sell themselves.” Morgan Stanley Tower is in the heart of downtown St. Petersburg across from the Sundial Shops and just two blocks from the waterfront. Feldman Equities’ DiBlasi and Ceci Tricoli negotiated the deal on behalf of the building ownership group.

 

 

The 17-story, 190,000 square foot office building was 65% occupied just three years ago when a joint venture consisting of affiliates of Feldman Equities and Tower Realty Partners acquired the building. Feldman Equities spearheads leasing responsibilities with Tower Realty Partners handling property management. This is the third downtown St. Petersburg office building the joint venture has renovated and brought to 100% occupancy.  “The St Petersburg office market is robust. Our three St Pete office buildings are now over 99% occupied,” said DiBlasi. The nearby, 242,000 square foot City Center office building reached the 100% milestone last year and the 250,000 square foot First Central Tower is now fully occupied following its recent renovation completion.

About Directed Capital

Directed Capital is a private equity firm specialized in the business of acquiring and originating special situation commercial mortgage debt and making selective real estate investments on assets in the $1 million to $10 million range.  Operating in the alternative investment space, Directed Capital is known for consistently providing its investors with superior risk-adjusted returns that are traditionally uncorrelated with the market by deploying capital into well-diversified commercial asset classes and geographies.  Founded in 2001 with 36 professionals at its offices in St. Petersburg, FL and San Diego, CA, Directed Capital has sponsored eight funds acquiring more than $1.2 billion in commercial real estate loans and other assets.  Directed Capital Advisors, LLC is a SEC Registered Investment Advisor (RIA).  For more information, visit www.DirectedCapital.com

       

Morgan Stanley Tower Welcomes Khonsari Law Group

Khonsari Law Group, PLLC will open a new office in downtown St. Petersburg at Morgan Stanley Tower. Special thanks to Mike Heretick of Vector Commercial Real Estate Services, LLC for brokering the deal along with the Feldman Equities leasing team of Ceci Tricoli and Mike DiBlasi.

The Khonsari Law Group provides powerful advocacy for those in need of representation. The firm’s top priority is ensuring  clients’ rights and interests are protected under the law. Founded in 2011, the firm prides itself on their ability to provide an experience that is both personalized and as relaxed as possible for every client. Their attorneys are easily accessible and prepared to put forth substantial time and effort into every client’s case. The firm represents individuals as well as medical practices, medical facilities, advanced surgical centers and various businesses in the Tampa Bay area and nationwide.

Michael Talmadge brings new deal to St Pete’s Morgan Stanley Tower

With limited availability at Morgan Stanley Tower it’s not often we get to announce a new lease. Special thanks to Echelon’s Michael Talmadge for bringing the Steven Raymund deal to the building! We’re especially pleased to count one of Tampa Bay’s most notable business leaders as our newest tenant.

Steven Raymund

A Great Place to Conduct Business

“Our firm has worked closely with Feldman Equities and Tower Realty Partners since they purchased and took over the management of the Morgan Stanley Tower in 2013. As longtime tenants, we feel deeply valued and appreciated by the owners and the property management team. As the St. Petersburg Regional Office Manager, I have worked closely with Portfolio Manager Kyle Nevergold of Tower Realty and I would say that Kyle is one of the best managers I have ever worked with in my experience of working with property management teams for more than two decades. He is responsive, he listens, and he gets the job done. Kyle is also respected and takes pride in what he does. The daily work he does helps Feldman Equities and Tower Realty truly shine.

We think Feldman Equities has done an amazing job on the recent renovations to Morgan Stanley Tower, from the beautiful bright new lobby, revamped elevator cars and efficient mail room to the new gym and upgraded garage. We’re a law firm that welcomes clients to our office on a daily basis, so we appreciate and value the work Feldman Equities has done to ensure Morgan Stanley Tower is a great place to conduct business. Feldman Equities and Tower Realty always provide a high level of service and quick efforts to meet our ongoing need.”

logo_adams_and_reese

 

Tellie Settimi

Regional Office Manager

Adams and Reese LLP

St. Petersburg and Tampa Regional Office Manager

Morgan Stanley Tower Renovations

We invested nearly $6.5 million dollars in renovations at Morgan Stanley Tower including a stunning new lobby featuring new stone floors and walls, and a 30 foot high wall of light designed by internationally renowned architect Gensler.  The wall of light created an inviting and architecturally exciting element as visitors enter the building.  A matching wall of light was also placed on the exterior of the building that is highly visible to the street.

The building is now 100% occupied.  The renovation induced several new companies to move into the downtown core including Morgan Stanley, Enstar and Capital Resorts.  None of these tenants were previously located in downtown St. Pete.

Today’s companies are focused on the needs of the millennial workforce which values high-end amenities, including one of the best fitness centers in downtown St. Petersburg. Fully occupied office buildings contribute to the vitality of the downtown core with tenants making a significant economic impact in the community.

The renovations repositioned Morgan Stanley Tower as one of downtown St. Petersburg’s most prestigious office buildings with amenities and finishes matching its stellar location.

Additional renovations included a high-end fitness center, a major upgrade to the building’s parking garage, an all-new state-of-the art elevator system for both the building and the garage as well as extensive renovations to the tenant floors with new tile floors, new lighting, new carpeting, and bathroom upgrades.

 

View our before & after slide show.