St. Petersburg, Fla.-based financial services firm
Raymond James has reached an agreement to extend its lease of the 21-story Raymond James Tower at 50 Front Street by 10 years, marking a renewed commitment to growth in downtown Memphis.
"Raymond James is committed to growing the firm's presence in Memphis and is now well-positioned to do so with the extended lease in place," says Raymond James President John Carson. "In particular, the space allows for growth of both the Fixed Income Capital Markets and Public Finance divisions, which are headquartered in the Raymond James Tower. Additionally, the Memphis Operations Center is slated for expansion over the next two years, and two large Private Client Group branches in Memphis continue to recruit new and experienced financial advisors to the firm."
The Raymond James Tower, which was built in 1983 and is the second-tallest building in Memphis, is currently owned by Orlando, Fla.-based
Parkway Properties.
Roughly 600 Raymond James employees will occupy 12 floors of the skyscraper and more than 185,000 square feet of office space. Current divisions in the tower include Public Finance, Fixed Income Sales and Trading, Equity Capital Markets, Private Client Group and Operations and Administration Support.
The firm plans a redistribution and capital expenditure effort over the next 12 months to optimize the space and redistribute its workforce.
By Michael Waddell
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.