St. Pete’s clock tower is being sued by former leasing agent

The owners of St. Pete’s tallest building are being sued for failing to pay its former leasing agent commission on a large-scale deal brokered by a Tampa company called Hybridge. According to lawsuit documents, Hybridge principal Justin Boudreau received a tip that an undisclosed company may be interested in leasing a large amount of space in the 28-story downtown One Progress Plaza. In December 2014 the New York-based company iQor announced it planned to move its headquarters to St. Pete bringing with it more than 100 employees spread over three floors in the iconic building. However, by the time the announcement was made, Hybridge was no longer the building’s leasing agent. According to Hybridge, Boudreau continued to facilitate the deal. The company also had a stipulation in its contract with One Progress Plaza to earn commission for any lead it cultivated as long as a deal was signed within 180-days. Based on that, Hybridge claims it is entitled to a $180,145 payment for its work on the 10-year, $6 million deal. In April, partial owners Kucera Properties indicated they would not be paying Hybridge any commission. Hybridge is seeking payment for the entire 3-percent commission plus attorney’s fees, interest and “such further relief as this court may deem just and proper.” IQor is a business outsourcing and product support company. Prior to signing the deal, IQor purchased part of the St. Pete-based Jabil Circuit. Hybridge provides real estate services to both regional and national retailers. Its office is in Ybor City. The lease for floors 5-7 of the building begins with an annual rent of $435,664. By year ten that rent amount will be $783,225. Hybridge represented by two attorneys from the Orlando law firm of Moran Kidd Lyons Johnson. The lawsuit was filed on May 5.

The post St. Pete’s clock tower is being sued by former leasing agent appeared first on SaintPetersBlog.

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