The Mosaic Co. Relocating to Iconic Tampa High-Rise

By Timea Papp

Bank of America Plaza

Banyan Street Capital has closed a headquarters relocation lease with The Mosaic Co. at Bank of America Plaza, a Class A office tower in downtown Tampa, Fla. The tenant, a producer and marketer of concentrated phosphate and potash fertilizers, will be relocating its corporate offices from Minnesota. CBRE represented the ownership in the lease negotiations.

Located at 101 E. Kennedy Blvd., the 42-story Bank of America Plaza encompasses 791,000 square feet and is LEED Gold certified. The property spans two city blocks and features a 14-level parking structure with 1,260 spaces. Amenities include full-time concierge services, fitness center, meeting facility, tenant lounge and tenant intranet for real-time communication and updates.

Recent improvements

Banyan Street Capital, along with Oaktree Capital Management, acquired the asset in late 2015. According to Yardi Matrix, the partnership purchased the building for $194.4 million from MetLife. Bank of America Plaza has since undergone a comprehensive renovation of the main lobby, fitness center and retail concourse. The ownership has also added several new features including a 70-person conference facility and workspaces for employees to gather outside of the office.

“Mosaic selecting Bank of America Plaza reiterates the importance of providing more than just views and offices. Furthermore, it justifies the attention we give to improving the overall environment for our tenants and their employees,” said Zac Gruber, managing director at Banyan Street Capital, in a prepared statement.

CBRE First Vice Presidents Anne-Marie Ayers and Philip Weber worked on behalf of the landlord. The deal marks Tampa Bay’s first Fortune 500 corporate relocation.

Image courtesy of CBRE