Franklin Street Awarded Leasing Assignment for Landmark Office Tower in Downtown St. Petersburg

St. Petersburg, Fla. – (May 16, 2019) — Franklin Street has been appointed exclusive leasing agent for 490 First Avenue South – the landmark, Class A office building located in downtown St. Petersburg, Fla. Dallas, Texas-based Lincoln Property Company acquired the eight-story tower, formerly known as the Times building, in December 2018 with plans to re-establish it as a premier multi-tenant project for high-end office users in the emerging Tampa Bay/St. Petersburg market. Lincoln Property Company, an international real estate company whose holdings include several apartment communities and office towers throughout the country, awarded Clay Wommack and Matt Alexander of Franklin Street the leasing assignment.

The 239,585-square-foot facility consists of three buildings, built in 1924, 1968 and 1988, which are joined together. The property, which is currently 90% leased, includes a well-diversified mix of nationally recognized tenants including; Tampa Bay Times, L3 Commercial Aviation Solutions, Penny Hoarder publisher Taylor Media and the Bank of the Ozarks. The planned renovations for the facility include a conference facility, state-of-the-art fitness center, full elevator modernization, common area Wi-Fi service and an on-site food service provider.

“Matt and I are thrilled to be selected by Lincoln Property Company to represent leasing on this unique asset located in the center of downtown St. Petersburg,” said Wommack, senior director for Office and Industrial in Franklin Street’s Tampa office. “We look forward to repositioning 490 First Avenue South as a top destination for corporate relocations.”