The long list of companies moving their corporate headquarters from the New York Metro area to Florida just got a little longer. MRA Capital Partners has announced plans to move its headquarters from New Jersey to Tampa, Florida.
The move took root during the pandemic. In 2020, the firm's CEO Adam Anderson moved to Tampa and opened a second office in the market. That office, which is located in Westshore with waterfront views of Old Tampa Bay, will now serve as the company's new headquarters.
Along with the corporate relocation, MRA Capital Partners will also sharpen its investment focus on the local market. It plans to 200 multifamily units in the Tampa area over the next year. Tampa offers population growth, job creation and overall quality of life, all of which are characteristics the company targets when identifying new investment markets.
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During the pandemic, several corporations fled the New York Metro area in favor of Florida. Citadel, Blackstone, R&B Realty Group and Goldman Sachs are some of the top firms to make the move to Florida. In an interview earlier this year with GlobeSt.com, Shelby Rosenberg, R&B Realty Group's Head of Development and Acquisitions, cited the tax benefits, quality of life and the great weather as reasons why the firm chose to relocate to Miami.
Like MRA Capital Partners, R&B also had a stake in the local investment market. It is developing The Gateway at Wynwood, a 195,000-square-foot class-A office building with nearly 25,900 square feet of prime street-level retail space. Rosenberg said, "We see a future for our portfolio in Miami and South Florida, and are focused on that as we intend to continue this momentum. We are poised to grow our South Florida footprint and we are going in big with The Gateway."
Corporate flight to South Florida, where Tampa is located, is a relatively new phenomenon born during the pandemic. In an interview from February 2020, just a month before global shutdowns, Christos Costandinides, director of market analytics for CoStar Group in Miami, said that more companies were choosing other sunbelt states Texas over Florida, and JLL managing director Matthew Cheezem in Miami, said that no large companies with more than 50 employees were making the move.
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Kelsi Maree Borland
