Thu. May 26th, 2022

Cathie Wood, CEO of Ark Invest; 200 Central Ave., Skt. Petersburg, FL (LoopNet, Ark Invest)

ARK Investment will sell its New York office this fall with new headquarters in St. Louis. Petersburg, Florida.

The investment firm, which specializes in disruptive innovation, announced Wednesday that it is ready to close its New York headquarters on October 31 and make it official by November 1.

“We are excited to move our headquarters to St. Petersburg, Florida, as we believe the Tampa Bay region’s talent, innovative spirit and quality of life will accelerate our growth initiatives,” said founder and CEO Cathie Wood in a press release.

The company has occupied the seventh floor of 3 East 28th Street. It is not immediately clear how much space the company is vacating, but One Madison Group’s rent for the entire eighth floor of the building is 5,575 square meters.

Wood’s profile as an investor skyrocketed over the past year. Bloomberg noted that the company’s flagship product returned nearly 150 percent during 2020.

The company’s new headquarters will not be its only real estate investment in Florida. The ARK Innovation Center, a 45,000-square-foot incubator, is scheduled to break ground in the first quarter of next year and open in July 2023. The company said it believes the incubator will help create more than 1,200 jobs by 2026.

“Our relocation and the ARK Innovation Center will enable us to be more innovative and impact the wider community, while focusing on the technological advances and creativity that permeate the Tampa Bay region,” Wood said.

Some New York City investment firms began turning their attention to Sunshine State last year. Blackstone Group, Goldman Sachs and Paul Singer’s Elliott Investment Management were among the companies planning to open offices in South Florida.

Leave a Reply

Your email address will not be published.