Ark Invest, a global investment firm led by prominent investor Cathie Wood, will move its headquarters to a new St. Petersburg tower when it opens.
Ellison Development, the developer of the building, announced Wednesday Ark will take 13,000 square feet on the 11th floor of Halcyon, the tower expected to begin construction later this year.
The space, the developer says says, will be “designed to support its hybrid work model and continued global growth.”
Ark’s current headquarters is in the 200 Central building in downtown St. Pete. Wood moved her investment firm from Manhattan to St. Pete in 2023, two years after being listed No. 53 on Fortune magazine’s list of the world’s most powerful women.
She gained her fame and reputation growing a fund that at one point had some $60 billion in assets under management and using social media videos to share her investment philosophy.
According to a June 30 story from the investment website The Street , the flagship Ark Innovation ETF is up more than 21% year-to-date, “far outpacing the S&P 500’s 5% gain” as of June 20.
Cathie Wood has brought her tech investment clout and influence to St. Pete.
(Ark’s website shows the Innovation ETF is one of six Exchange Traded Funds it operates)
“Wood’s remarkable return of 153% in 2020 helped build her reputation and attract loyal investors,” the story says. “Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK dropped more than 60%.”
Ark Innovation ETF has $5.5 billion under management and delivered a five-year annualized return of 0.75% as of June 27, according to The Street. The S&P 500 has an annualized return of 17.22% over the same period.
The Halcyon, Ark’s future office home, is a planned 11-story tower with ground floor retail and 140,000 square feet of rentable office space. Each office floor will have 13,000 square feet of rentable space.
Tampa-based Ellison, in the statement, calls it the “first trophy-class office tower to rise in downtown St. Petersburg in more than a generation.”
Construction is expected to begin later this year and to finish early 2027.
Halcyon is part of The Central, the redevelopment of St. Pete’s former police headquarters on Central Avenue in the city’s Edge District. In addition to the office tower portion of the project, Ellison is also developing the Autograph Collection hotel in the development.
Cushman & Wakefield is handling the leasing efforts at the Halcyon. Information about the future use of ARK Invest’s current headquarters in St. Pete will be shared in the coming months.
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