FloridaFuture
August 15th, 2007, 01:46 PM
Rivergate Tower Turning Around
http://snap.tbo.com/images/photos/100038/2007/08/14/gallery/1694893.jpg
File Photo 2006 Crystal L. Lauderdale/Tampa Tribune
Rivergate Towers
By JANIS D. FROELICH, The Tampa Tribune
Published: August 15, 2007
TAMPA When Michael Lerner sees business-clad diners scooting across Ashley Drive for a table at Malio's Prime Steakhouse, his mind begins to reel ahead.
'Maybe there's one guy there whose lease is about to roll over,' said Lerner, regional director for America's Capital Partners, owner of Rivergate Tower, 400 N. Ashley Drive.
It's this kind of thinking that has turned around one of downtown's most memorable office towers. The 31-story limestone cylinder structure, known around town as the Beer Can building, was less than 40 percent occupied when the company bought the office tower in January 2005 for $35.5 million.
Lerner said occupancy has climbed to 70 percent with such new tenants as the ground floor's Malio's and NorthStar Bank. His goal is to invigorate the pavilion or cube area adjacent to the tower on the outer ground level. A well-known jeweler will move into space where Bank of America once stored valuables in a huge safe. Also, Lerner plans an dry-cleaning drop-off service and a florist. He's also located a sundry shop in this area.
Around the base of the tower, a fast-food place features a daily Malio's special for $6.50 that diners can get to-go or eat in the lobby, where a pianist entertains.
Bank of America occupies two floors, but the best-known tenant is Sykes Enterprises, occupying four floors. A fitness center offers views, equipment and a sizeable dance floor. The garage features car detailing.
Lerner is thrilled to have landed Malio's.
'I wanted a high-end restaurant and thought of either Bern's or Malio's,' he said. But knowing that the Iavarone family had closed Malio's popular South Tampa spot in 2005, he wasn't sure they would want to take the plunge again.
'When they saw the space we promised, they were sold,' Lerner said.
The restaurant has views of the Hillsborough River and the stately University of Tampa.
'Malio's loved the architecture of the building,' said Lerner, adding that Harry Wolf incorporated sundial features when he designed the structure almost 20 years ago. Rivergate Tower has a slot near the top that is aligned with the autumnal equinox, and the lobby has markings of time and space distances.
On a recent weekday, Jason Fernandez, proprietor of Malio's, was busy setting up for lunch. The noon meal has been booked solid since the restaurant opened in June.
'This is the slow season in Florida, but not for us,' he said.
The restaurant seats 200 inside and 50 more on a mist-cooled patio. Diners are greeted by a 710-bottle wine rack. There is valet service available off Ashley.
Lerner provided a tour outside to show how the crosswalk at Ashley and Madison Street has been updated with a bricks and a timed display for pedestrians.
'I don't know why the perception was it was difficult to cross from the main downtown to get here,' he said. 'But that's all been remedied.'
Reporter Janis D. Froelich can be reached at (813) 835-2104 or jfroelich@tampatrib.com.
http://southtampa2.tbo.com/content/2007/aug/15/st-rivergate-tower-turning-around/?news
http://snap.tbo.com/images/photos/100038/2007/08/14/gallery/1694893.jpg
File Photo 2006 Crystal L. Lauderdale/Tampa Tribune
Rivergate Towers
By JANIS D. FROELICH, The Tampa Tribune
Published: August 15, 2007
TAMPA When Michael Lerner sees business-clad diners scooting across Ashley Drive for a table at Malio's Prime Steakhouse, his mind begins to reel ahead.
'Maybe there's one guy there whose lease is about to roll over,' said Lerner, regional director for America's Capital Partners, owner of Rivergate Tower, 400 N. Ashley Drive.
It's this kind of thinking that has turned around one of downtown's most memorable office towers. The 31-story limestone cylinder structure, known around town as the Beer Can building, was less than 40 percent occupied when the company bought the office tower in January 2005 for $35.5 million.
Lerner said occupancy has climbed to 70 percent with such new tenants as the ground floor's Malio's and NorthStar Bank. His goal is to invigorate the pavilion or cube area adjacent to the tower on the outer ground level. A well-known jeweler will move into space where Bank of America once stored valuables in a huge safe. Also, Lerner plans an dry-cleaning drop-off service and a florist. He's also located a sundry shop in this area.
Around the base of the tower, a fast-food place features a daily Malio's special for $6.50 that diners can get to-go or eat in the lobby, where a pianist entertains.
Bank of America occupies two floors, but the best-known tenant is Sykes Enterprises, occupying four floors. A fitness center offers views, equipment and a sizeable dance floor. The garage features car detailing.
Lerner is thrilled to have landed Malio's.
'I wanted a high-end restaurant and thought of either Bern's or Malio's,' he said. But knowing that the Iavarone family had closed Malio's popular South Tampa spot in 2005, he wasn't sure they would want to take the plunge again.
'When they saw the space we promised, they were sold,' Lerner said.
The restaurant has views of the Hillsborough River and the stately University of Tampa.
'Malio's loved the architecture of the building,' said Lerner, adding that Harry Wolf incorporated sundial features when he designed the structure almost 20 years ago. Rivergate Tower has a slot near the top that is aligned with the autumnal equinox, and the lobby has markings of time and space distances.
On a recent weekday, Jason Fernandez, proprietor of Malio's, was busy setting up for lunch. The noon meal has been booked solid since the restaurant opened in June.
'This is the slow season in Florida, but not for us,' he said.
The restaurant seats 200 inside and 50 more on a mist-cooled patio. Diners are greeted by a 710-bottle wine rack. There is valet service available off Ashley.
Lerner provided a tour outside to show how the crosswalk at Ashley and Madison Street has been updated with a bricks and a timed display for pedestrians.
'I don't know why the perception was it was difficult to cross from the main downtown to get here,' he said. 'But that's all been remedied.'
Reporter Janis D. Froelich can be reached at (813) 835-2104 or jfroelich@tampatrib.com.
http://southtampa2.tbo.com/content/2007/aug/15/st-rivergate-tower-turning-around/?news