Feldman Equities announced today that Ameriprise Financial, Inc. (NYSE: AMP) has signed a lease for over 6,200 square feet in downtown Sarasota’s City Center. The financial services company will relocate its office at 240 S. Pineapple Avenue to City Center at 1819 Main Street in early 2021. The long-term lease affirms Ameriprise’s commitment to its clients in downtown Sarasota.
The deal comes on the heels of the previously announced multimillion-dollar renovation to City Center. “The renovation plan is already impacting the building’s leasing,” said Baharea Larsen, Feldman Equities Executive Vice President for Leasing and Marketing. “Despite Covid-19, we are seeing interest from quality conscious firms for whom high-end finishes and amenities are a must. These tenants are making a long-term investment in their businesses and know they need to plan for a return to normalcy.” Ameriprise will occupy the building’s 10 floor which features expansive views of the waterfront and downtown skyline. Kristin Kenney of Cushman and Wakefield represented Ameriprise and Larsen, Ceci Tricoli, Melissa Harris, and Steve Horn brokered the deal on behalf of the landlord.
“Ameriprise has really grown over the last decade in Sarasota and Central Florida. Top advisors from across the industry are joining us to leverage our deep expertise in helping advisors grow organically and inorganically through practice acquisitions. Advisors are excited about the new, high-quality office space in Sarasota City Center that will help them deliver a superior client experience and give them ample opportunity for growth.” — Jeremy St. Croix, AAMS®, APMA®, CRPC®, Ameriprise Branch Manager
Ameriprise is a publicly traded financial advisory firm headquartered in Minneapolis with over $970 billion in assets under management. Founded in 1894, the storied company provides financial
advice through wealth management, asset management, insurance capabilities and estate planning.
The most dramatic changes at City Center will be the complete renovation of the building’s lobby and entrance. Feldman will install frameless glass at front entrance and remove the portico to make entrance more prominent as well as install large-format tiling and a new reception desk. The new ownership will also be upgrading mechanical systems, including all-new chillers. The improvements will be complete by Q1 2021. Feldman is known throughout Tampa Bay for cutting edge office building renovations and its track record was key to securing the lease, according to Kenney.
In addition to lobby renovations, plans include the addition of new tenant amenities, including:
• High-end lobby seating with WiFi
• Expanded and modernized conference center
• New lobby security desk
• Renovated parking garage entrance
The announcement follows over 15,000 square feet of leasing at City Center since a joint venture of Feldman Equities, Tower Realty Partners, and Equity Street acquired the building in March 2020. The 248,000 square foot building was 80% occupied at the time of acquisition.
City Center boasts some of the best views in downtown Sarasota and still has a penthouse suite available said Larsen, “I’m not sure what has impressed prospects more – the views or the renovation plan.”
