As part of Morgan Stanley’s move to downtown St. Petersburg the Class A office building formerly known as Wells Fargo Plaza has been renamed Morgan Stanley Tower after its newest tenant. The financial services giant signed a long-term lease at 150 2nd Avenue North earlier this year to occupy multiple floors in the building. The Morgan Stanley name went up on the building at the end of June.
The ownership of 150 2nd Avenue North offered Morgan Stanley building naming rights, stunning water views of Tampa Bay and a premium downtown location across from the new Sundial St. Pete (formerly BayWalk). The building is one of downtown St. Petersburg’s best-located, premier Class A office buildings.
“We’re thrilled to have received this long term lease commitment. Within the financial services sector, Morgan Stanley is one the most respected names in the world. The renaming of the building as Morgan Stanley Tower provides us with terrific branding for the building and our tenants,” stated co-owner Larry Feldman, CEO of Feldman Equities who spearheads leasing for the building.
The 17-story, 187,000 square foot office building was purchased in August of last year by a joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners. “We purchased the building soon after Wells Fargo Bank vacated 22,000 square feet,” said Feldman. “This acquisition gave us the opportunity to do what we do best – renovating and upgrading office buildings in order to maximize their value.”
