Florida law firm Gunster signed a long-term lease for 14,298 square feet at the SunTrust Financial Centre. The firm had recently entered the Tampa Bay market.
The transaction was mediated by Sharon Bragg, vice president at Jones Lang LaSalle on behalf of the landlord, and by Greg Katz of Studley, Inc. on behalf of Gunster. The space represents the firm’s first permanent office in the area. No financial details of the deal have been disclosed.
“Gunster is excited about expanding to the Tampa Bay area,” said H. William Perry, Gunster’s managing shareholder. “The addition of local high-quality attorneys is Gunster’s first step in developing a full-service presence in Tampa Bay and marks the beginning of a larger growth plan for the West Coast.”
Acquired in December 2011 by an affiliate of the commercial real estate firm The Brookdale Group, the 36-story, 527,000-square-foot, Class A office building is 86 percent leased. Designed by U.S.-based firm Cooper Carry, the building is leased exclusively by Jones Lang LaSalle and managed by Means Knaus Partners. In 2010 and 2011, the building was designated the “Outstanding Building of the Year” by the Building Owners and Managers Association’s Tampa Bay chapter. It is located at 401 East Jackson Street in Tampa’s Central Business District.
According to a recent Marcus & Millichap office market overview, demand for Class A office space in the Tampa area has wavered following a reasonably strong second half of last year, when many tenants upgraded to higher-quality space. For the following months, a minor improvement in space demand is projected, which will generate a slight decline in vacancy.
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