Sale of 220 West Garden Office Tower in Pensacola, Florida
Stirling Properties will resume management & leasing of the property
Rendering of proposed exterior renovations of 220 West Garden
Stirling Properties commercial real estate company is pleased to announce the closing on the sale of 220 West Garden (former SunTrust Tower) in Pensacola, Florida. The 95,329-square-foot, 10-story office tower was purchased by Civic Conversations, LLC, which is part of the Studer Family of Companies.
Jason Scott, Sales & Leasing Executive with Stirling Properties, worked on behalf of the seller on the property transaction. Stirling Properties will also resume the management and leasing assignments of the property. Exciting new renovations for the building are expected to commence in November of this year, with completion anticipated for the fourth quarter of 2018.
“We are glad that one of Pensacola’s most iconic buildings is going to continue to serve the Pensacola community in a fresh, new way,” said Scott. “We are equally excited at the opportunity to work with Studer Properties, LLP and its team to provide them with quality management and leasing services that complement Studer’s core mission for improving the quality of life.”
Studer’s plans for the property include a significant capital investment with the goal of turning it into a place for community discussions and dialogue, to host expert speakers on issues important to Pensacola, and create an open public space for citizens to meet and enjoy downtown, and a best-in-class event center.
While most of the building will remain a multi-tenant office tower, the renovation plans include converting the 17,000-square-foot ground floor into a community interaction area with café, lecture space, and an environment for other community gatherings. The existing exterior open space will become an urban plaza for musical events, outdoor movies, and other seasonal activities. The building’s ninth floor will include an observation room for visitors.
Rendering of proposed interior renovations of 220 West Garden
“Our goal has always been to improve the quality of life for people in Northwest Florida. Through our commercial ventures, we hope to help our community and our local businesses be more productive and profitable, which translates to more jobs and a better trained workforce,” said Quint Studer.
“Stirling Properties is proud to retain 220 West Garden as part of our commercial portfolio in the Pensacola region. We look forward to working with the Studers and their organization in its core mission to make Pensacola the best place to live and work,” said Will Barrois, VP & Regional Manager for AL/FL with Stirling Properties.
Stirling Properties is located at 220 West Garden Street, Suite 802 in Pensacola, Florida. Click here for more information regarding our services.
2015: A Big Year for Pensacola
With Stirling Properties’ having an office in Pensacola for just over a year now, I can say it is exciting to experience first-hand the revitalization of downtown Pensacola and the economic energy happening along Florida’s “western gate”. 2015 was a vital year for economic development, job creation and community vitality in Pensacola, Florida.
The most significant single event that is shaping the future of Pensacola’s economy, by creating the most jobs and bringing in the largest investment, is Navy Federal Credit Union’s $850 million two-phase expansion of its Pensacola Campus. Phase 1 of the expansion began in early 2015, and both buildings are expected to be ready for occupancy in June 2016. These buildings will house an additional 2,000 employees. Phase 2’s ground breaking is expected to begin in November 2016 and will bring an additional 5,000 work stations. By 2020, the Pensacola campus will total 2 million square feet of space and $1 billion in capital investment; employing 10,000 people.
Downtown Pensacola saw several major projects that either began or were completed in 2015.
- One Palafox Place is a complete renovation of historic Brent and Blount Buildings. The restoration and redevelopment will transform it into a new live, work play community.
- The Pensacola News Journal building at 101 E. Romana Street was demolished and construction for a $51 million, 260-unit apartment and retail building will begin in early 2016.
- Adjacent to the apartments is a new 52,000 square foot, $15 million YMCA that will be competed in late 2016.
- The Florida Institute for Human and Machine Cognition’s Alcaniz Street headquarters will be ready in March 2016. This expansion will take their office and workspace to 30,000 square feet.
- One51 Main at the Community Maritime Park is complete and ready for occupancy. This 27,000 square foot, mixed-use development on Pensacola Bay will house office, retail and condominium space.
- A 100-room Holiday Inn Express located on Main Street is under construction and will open in late 2016 or early 2017.
The Bluffs, an industrial park near Cantonment, Florida, will host up to 60 individual industrial sites and bring 5,000 new jobs.
A contract with VT Mobile Aerospace to build a $38 million aircraft maintenance and overhaul facility at Pensacola International Airport is setting Pensacola up as an aerospace hotspot. The large hanger facility will begin construction during the second half of 2016 and is expected to create 300 jobs.
Hosted by the University of West Florida’s Center for Entrepreneurship, EntreCon, a two-day conference for entrepreneurs at the Rex Theater, was successfully launched in November 2015. Over 225 people attended and EntreCon 2016 is already scheduled for November.
2016 brings big economic growth opportunities in entrepreneurship, cybersecurity and aviation. I can’t wait to see what else is in store for Pensacola in 2016.
Stirling Properties Opens New Office in Pensacola, Florida, To Further Expand Gulf South Presence
Stirling Properties is pleased to announce the opening of a new office in Pensacola, Florida, in SunTrust Tower at 220 West Garden Street, Suite 802. As the company’s first location in Florida, the office joins 12 other offices located in Louisiana, Mississippi and Alabama to further strengthen Stirling Properties’ presence in the Gulf South. Will Barrois, Vice President and Regional Manager of Alabama/Florida, oversees all business development throughout the region.
“Stirling’s expansion into the Panhandle of Florida is yet another important step in the long-term strategic plan of servicing the entire Gulf Coast market,” stated Marty Mayer, President and CEO of Stirling Properties.
Stirling Properties will continue to handle the full-time management and leasing of SunTrust Tower. The 9-story, 95,000 square-foot office tower has been the premier office address in the downtown market for 40 years. Jason Scott, Senior Sales and Leasing Executive/Property Manager, transferred from Stirling’s Mobile office to the Pensacola office, where he will oversee the management and leasing of SunTrust Tower. Holding a broker’s license in both Alabama and Florida, Mr. Scott will also be responsible for expanding third party brokerage and management opportunities in Northwest Florida. With over 35 years’ experience in commercial real estate, Mr. Scott began his career in Pensacola and is excited to be part of Stirling’s expansion into Florida.
“Handling the management and leasing of SunTrust Tower gives us a great opportunity to expand Stirling’s footprint into the Florida Panhandle,” stated Will Barrois. “We are looking forward to serving our existing clients and expanding the full complement of property management, brokerage, acquisitions and development from our new Pensacola office.”
For your commercial real estate needs in Florida, contact Stirling Properties at the new office located at 220 West Garden Street, Suite 802, Pensacola, Florida, or call (850) 418-6792.
