Lighting Owner Relocates Vinik Asset Management’s HQ to SunTrust Tower

By Georgiana Mihaila, Associate Editor

Vinik Asset Management—the Boston-based hedge fund and investment firm founded and controlled by Tampa Bay Lightning owner Jeff Vinik—will soon relocate to Tampa’s SunTrust Financial Centre.

The firm recently signed a long-term lease for more than 20,000 square feet at Tampa’s iconic tower and will occupy the entire 31st floor of the building. While it will retain a presence in Boston, Vinik Asset Management will begin operating out of the new space this summer.

Jones Lang LaSalle Inc.’s Sharon Bragg represented the landlord—an affiliate of The Brookdale Group—during lease negotiations, while Andy May of Cushman & Wakefield Inc. represented the tenant. “The relocation of Vinik Asset Management’s headquarters is not only a great win for SunTrust Financial Centre but it will have a significant impact on the city of Tampa and overall absorption for the CBD,” said Bragg.

Tampa’s iconic SunTrust Financial Centre building is located at 401 E. Jackson St. in downtown Tampa, at the southeast corner of Jackson Street and Florida Avenue. The 36-story, 527,000-square-foot, Class A trophy office building, designed by U.S.-based Cooper Carry, features an all-white stair-stepped ziggurat roof that is illuminated at night, creating a “downtown beacon” that is visible for miles.

Designated the “Outstanding Building of the Year” by the Building Owners and Managers Association’s (BOMA) Tampa Bay chapter in both 2010 and 2011, the building traded in December for $82 million. Owner The Brookdale Group has granted Jones Lang LaSalle exclusive leasing assignments.

Vinik Asset Management’s relocation to Tampa follows the Vinik family’s purchase of two Palma Ceia properties, consisting of a $6 million, 8,300-square-foot home and a $3.2 million adjacent property. Vinik is also in the bid for acquiring the Channelside Bay Plaza shopping complex.

Image Courtesy of The Brookdale Group Official Website