Make us your home page
Instagram

Raymond James considers building a satellite campus

Raymond James Financial is considering a satellite campus half the size of its sprawling St. Petersburg headquarters in another Tampa Bay county.

On its list of potential sites are properties that span from southern Pasco to southeast Hillsborough.

The financial services firm would not be leaving its 1 million-square-foot home campus in the Carillon Parkway office complex, said Anthea Penrose, company spokeswoman. But last year Raymond James analyzed its space and concluded it would be at or near capacity within the next several years.

And there is another problem: Because the headquarters location is in a Level 1 area evacuation for hurricanes, the firm must consider relocating vulnerable operations, such as the IT department, Penrose said.

The firm's initial request for proposals says the campus could be 300,000 to 500,000 square feet, which would make it one of the largest office complexes to be built in years.

The Carillon headquarters employs roughly 3,300 people. Penrose could not say how many of those employees would be moved to the new location.

Occupying four towers in the Carillon complex, Raymond James at one point considered building a fifth tower, but ruled out that option.

In the latest Times' rankings, Raymond James ranked as the seventh-largest public company in the Tampa Bay area with $2.6 billion in annual revenue.

The possible expansion comes as good news to a region with 12 percent unemployment.

"It's an exciting opportunity for the Tampa Bay area," said Rep. Will Weatherford, R-Wesley Chapel. "I would love to see them land in Pasco."

Pasco, which has 13 percent unemployment, has been trying to change its decades-old status as a bedroom community.

The county got a huge boost in 2009 when Baltimore-based T. Rowe Price bought 94 acres off State Road 54 for an office complex that could bring 1,600 jobs over the next decade. Construction for T. Rowe's first building must be finished by 2015.

Two sites in Pasco that county officials are showing off to Raymond James are Wiregrass Ranch in Wesley Chapel and property at State Road 54 and the Suncoast Parkway, near the proposed T. Rowe Price campus.

Before Raymond James confirmed Tuesday that it is on the hunt, Pasco Commissioner Ted Schrader would say only that he had met with the real estate division of a major company.

He said county officials and the Pasco Economic Development Council have put together a tentative incentive proposal that could include economic grant funds and assistance with road work.

"We're doing our best to make it as competitive as we can," Schrader said.

J.D. Porter, whose family owns Wiregrass Ranch, declined to comment Tuesday. "I signed a gag order," he said.

Just last week, Wiregrass Ranch pitched a mega sports complex proposal to county commissioners. The project's backers plan to request tourist tax money to help build infrastructure.

Schrader said the sports complex and business venture could have some connections because of the proximity.

"You'd have the possibility of a … company trying to get naming rights," he said.

Jeff Miller, a Realtor and chairman of the Greater Wesley Chapel Chamber of Commerce Economic Development committee, said the Wiregrass Ranch area would be an ideal location for Raymond James to expand.

He cited its proximity to Interstate 75, a large mall and plans for a hospital and a community college, as well the possibility of light rail.

"Wiregrass is becoming the center of Pasco County," he said. "I can't wait to sell all of their employees houses."

Reach Jodie Tillman at jtillman@sptimes.com or (727) 869-6247, or Lisa Buie at buie@sptimes.com or (813) 909-4604.

.Fast facts

Raymond James Financial

CEO: Paul C. Reilly

Headquarters: Carillon Parkway, St. Petersburg

Employees: 7,300, plus 3,700 independent contractors

Business: Investments, banking

Scope: Represents clients with $254 billion in assets, of which about $31 billion are managed by the firm's subsidiaries

Revenue*: $2.92 billion

Net income*: $228 million

Market cap: $4.5 billion

Ticker symbol: RJF

*For fiscal year ended Sept. 30, 2010

Raymond James considers building a satellite campus 01/25/11 [Last modified: Tuesday, January 25, 2011 11:18pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Unexpected weak quarter at MarineMax slashes boating retailer shares by 20 percent

    Business

    CLEARWATER — Just then you thought it was safe to go back into the water, a boating business leader issued a small craft warning.

    Bill McGill Jr., CEO of Clearwater's MarineMax, the country's biggest recreational boat retailer. [Courtesy of MarineMax]
  2. CapTrust moving headquarters to downtown Park Tower

    Corporate

    TAMPA — CAPTRUST Advisors, a Raleigh, N.C.-based investment consulting firm, is moving its Tampa offices into Park Tower. CapTrust's new space will be 10,500 square feet — the entirety of the 18th floor of the downtown building, which is scheduled to undergo a multi-million-dollar renovation by 2018.

    CAPTRUST Advisors' Tampa location is moving into Park Tower. Pictured is the current CapTrust location at 102 W. Whiting St. | [Times file photo]
  3. Good news: Tampa Bay no longer a major foreclosure capital of the country

    Real Estate

    Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.

    A few short years ago, Tampa Bay was a national hub for foreclosures. Not any more. [Getty Images/iStockphoto]
  4. Tampa-based start-up takes on Airbnb by promoting inclusion, diversity

    Tourism

    NEW TAMPA — Last May, Rohan Gilkes attempted to book a property in Idaho on the home-sharing platform Airbnb. After two failed attempts, the African-American entrepreneur asked a white friend to try, and she was "instantly" approved for the same property and dates.

    Rohan Gilkes poses for a portrait at his home and business headquarters in Tampa. 

Innclusive, a Tampa-based start-up, is a home-sharing platform that focuses on providing a positive traveling experience for minorities. Rohan Gilkes, the founder, said he created the organization after several negative experiences with Airbnb.
[CHARLIE KAIJO   |   Times]

  5. McMansions, state sewage order on tap at St. Petersburg City Council

    Local Government

    ST. PETERSBURG — The City Council is set Thursday to vote on two major issues: controversial zoning changes aimed at curbing big McMansion-style homes and a consent order with the state that will require St. Petersburg to fix its ailing sewage system.

    Two big, blocky homes on the 2300 block of Dartmouth, Ave N under construction in April. Several new homes under construction.
in St. Petersburg's Historic Kenwood Neighborhood are too big, residents complain. The St. Petersburg City Council on Thursday is set to consider ordinances aimed at curbing the construction of big "McMansions." [LARA CERRI   |   Times]