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National wealth management firm leases 10,000 square feet in downtown Tampa

Northern Trust Corp. has leased space in a new Tampa development and will move from its nearby office.

Northern Trust Corp. has leased 10,000 square feet in Water Street Tampa and will move from its nearby office on Florida Avenue. (Courtesy photo)
Northern Trust Corp. has leased 10,000 square feet in Water Street Tampa and will move from its nearby office on Florida Avenue. (Courtesy photo)
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Northern Trust Corp. has leased 10,000 square feet at Water Street Tampa and will begin moving in the coming months.

The Chicago financial services company’s new space is on the ninth floor of the Thousand & One building, not far from its current Tampa office on North Florida Avenue in downtown.

Lease terms were not disclosed. 

Dan Honegger, Tampa Bay president for Northern Trust Wealth Management, says in a statement the new space “will provide enhanced meeting space, room for future growth and access to a rooftop terrace for special events.”

Founded in 1889, Northern Trust is the second national financial institution to announce a move into the building in recent months. Back in April, Georgia-based Synovus said it was taking 14,234 square feet on the seventh floor. The bank, at the time, also said it was opening a branch in another nearby building.

Northern Trust’s neighbors in Thousand & One include ReliaQuest, Sila Realty Trust, RSM and Suffolk Construction

The 385,000-square-foot tower, the first to be built in downtown Tampa since 1992, features 10-foot tall floor-to-ceiling windows, open-air conference room, town hall space and nine terraces to “maximize natural light and air.” On the ground floor, the building houses several retailers, among them Naked Farmer and Boulon Brasserie.

Water Street is the $3 billion, 56-acre, mixed-use development just south of downtown Tampa. When completed, the development, being built on land once mostly made up of parking lots, is expected to bring nine million square feet of new construction that will include commercial, residential, hospitality, entertainment and retail space.

The project’s developer, Strategic Property Partners, is a joint venture between investor and Tampa Bay Lightning owner Jeff Vinik and Bill Gates’ Cascade Investment LLC.



Louis Llovio

Louis Llovio is the commercial real estate editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.


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