Global commercial real estate advisory firm Newmark Knight Frank (NKF) today announced the sale of 570 Carillon Parkway in St. Petersburg, FL to The Feil Organization (Feil) for $36.8 million. An NKF team led by Vice Chairman Michael Ippolito and Senior Managing Director Kenneth Zakin, also including John Esposito and Daniel Katcher, represented the building’s seller, Transamerica. The Feil team was led by Brian Feil and also included Saunders Ketcham, Brian Palumbo, and Michele Frankel.
The sale was structured as a partial leaseback with Transamerica leasing back approximately 52,000 square feet of the 245,000± square foot property.
“This property was developed and has been occupied by Transamerica since 1998,” said Zakin. “In 2018, it was converted for multi-tenant occupancy and is now nearly 75% leased with only one full floor remaining available at the building.”
Brian Feil added, “570 Carillon presented a compelling opportunity in the Tampa Bay/St. Petersburg market, which is continuing to build upon the upward office momentum it has had in recent years. This new acquisition continues Feil’s expansion into this high-performance market area and now brings our Tampa/St. Petersburg portfolio to approximately 1,000,000 square feet.”
570 Carillon Parkway is centrally located within the Carillon Business Park, near each of the Tampa/St. Petersburg metro area’s three central business districts – Tampa, St. Petersburg and Clearwater. The building features an atrium lobby, security desk, large cafeteria and fitness center and is supported by backup generators.
The Feil Organization is a private, established commercial real estate firm headquartered in New York City. A powerful force in real estate for over 65 years, the company owns and operates a nationwide portfolio of over 26 million square feet of retail and commercial space, and over 5,000 residential rental units. The Feil Organization also maintains regional offices in Chicago, New Orleans, St. Petersburg, and on Long Island.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.