New York-based real estate investment firm launches first-of-its-kind transformative modern office work concept in Tampa ahead of national rollout

New York-based real estate investment firm launches first-of-its-kind transformative modern office work concept in Tampa ahead of national rollout May 13, 2024

The Sason Organization unveils multi-million-dollar Westshore office renovation, taps Avison Young for exclusive leasing

TAMPA, FLA. – Avison Young today announced The Sason Organization, a New York-based real estate investment firm with $30 million invested in the Tampa market, launched its new experiential platform “Elevate,” designed to reimagine and revolutionize the boutique office experience for today’s modern workforce. The Bridge, a 98,105-square-foot three-story office building at 4904 Eisenhower Blvd. in Tampa’s Westshore submarket, is the first asset to implement Elevate, offering world-class hospitality services and perks for office tenants such as a dedicated 24-hour concierge, onsite health & wellness amenities and programming, and complimentary catered events. 

Sason purchased The Bridge for $14.22 million in 2022 and recently engaged Avison Young’s Michael F. Coppola and Laurie Hynes to exclusively lease the building. The company completed a $4.5 million capital improvement plan at The Bridge ahead of its launch of Elevate. Renovations include an overhaul and modernization of the lobby, a new state-of-the-art fitness center, landscape and entry façade enhancements, and an outdoor oasis with a private island for work or relaxation.

“Tampa’s business-friendly environment and growing population of younger professionals who live, play, and work differently compelled us to invest in the market and launch Elevate as a beta before rolling out the concept nationally,” said Joshua Sason, Principal of The Sason Organization. “We own five assets in Tampa and nearby cities, and it’s been one of more important and active markets in our portfolio over recent years. Two of our buildings in the Tampa area – The Bridge in Westshore and The National in Clearwater – are in transitional lease-up phases, making them the perfect assets to launch Elevate.” 

Sason also tapped Avison Young to lease The National, a 39,699-square-foot three-story office building at 28059 US Hwy 19 N in Clearwater, Florida. The National is slated to offer Elevate services by the end of 2024.

According to Avison Young research, despite the national direct availability rate reaching a record high of 20%, the office market continues to experience a flight-to-quality trend. Office buildings offering value-add amenities, large concessions, and flexible space options are outperforming other assets. 

“In Tampa, the gap in direct office vacancy rates between class A at 13.6% and class B at 17.7% as of first-quarter 2024 is wide, which underscores how much tenants value quality service and amenities,” said Coppola, who is a Senior Associate with Avison Young. “As office tenants continue to evaluate where and how employees will work moving forward, Sason’s Elevate concept ensures class B+/A- options exist that represent a significant value and experiential proposition for tenants.”

Sason’s real estate portfolio spans over one million square feet in nine states. Over the past five years, the company has consistently collected tenant data to help craft the Elevate offering. 

“Elevate is bespoke,” added Sason. “Each building, location, and tenant roster are different, so the offering will differ slightly based on those factors and nuances. However, the core services and experiences will be similar and of the same high quality at each building as we expand the concept within various office buildings in Florida and throughout the U.S.”

Through Elevate’s concierge program, tenants and their employees can book travel, airfare, hotels, restaurant reservations, and experiences via text or email, 24 hours a day, seven days a week. Health & wellness benefits include complimentary onsite group fitness classes to foster team building and enhance moral as well as mindfulness and self-improvement programming to maximize employee satisfaction. Private, catered onsite event curation services and holiday parties are among the added perks.

About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.

About Elevate

Elevate was developed by the team at Sason to take the essence of commercial real estate ownership to an entirely new level. With a customized experience developed and delivered to each property based on its unique attributes, Elevate redefines the standard for tenant experience in the boutique workplace.

About Sason Organization
The Sason Organization (“Sason”) is a privately controlled real estate investment firm that builds portfolios of assets pursuant to identified themes that are generally overlooked and underserved by traditional capital sources. The firm operates in accordance with its vision of elevating experience through investment and operational excellence.

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