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A $1 million makeover and possible negotiations to give a large tenant naming rights to the building are two pieces of In-Rel Properties Inc.’s strategy to revive the 50 Penn Place office and shopping center.

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In-Rel Properties Inc., based in Lake Worth, Fla., owns office and retail properties in Florida, Georgia, Alabama and Tennessee. It paid $15.25 million for 50 Penn Place a year ago and has spent about $1 million renovating it. A grand unveiling is planned.

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Tampa’s well-rounded tower gets new life: MyFoxTAMPABAY.com

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…Since buying the Rivergate Tower, also known as the Sykes Enterprises Tower, Udwin has spent more than $1 million renovating and reforming what he calls Tampa’s underappreciated architectural gem.

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Dennis Udwin wants to paint the town red…..He’s talking about the new color flourishes inside The Cube, part of the 31-story Rivergate Tower at 400 N. Ashley Drive, Tampa.

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J.H. Berry & Gilbert Inc. has boosted its Birmingham office leasing portfolio by 560,000 square feet with the addition of six buildings it is leasing for owner In-Rel Properties.

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The Florida Museum of Photographic Arts and Kahwa Coffee Co. are moving into “The Cube” portion of Rivergate Tower.

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Led by president Ron Riley of In-Rel Properties, the brokers’ Commercial Council of the Memphis Area Association of Realtors has refused to indulge in self-pity…

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Jackson, Miss.-based Parkway Properties Inc. has sold the tower at 1301 Gervais St. in Columbia for $19.5 million, the company announced Thursday.

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