Synovus plans office in Water Street Tampa
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 11, 2022

A Georgia bank is planning to open an office in Water Street Tampa.

Synovus Bank, which is among the largest banks in the Tampa Bay area ranked by deposits, plans to occupy 10,829 square feet or roughly half of the seventh floor at Thousand & One, Water Street's first office tower.

Plans for Synovus' (NYSE: SNV) new space are detailed in building documents filed with the city. Reno Boyd Building Co. is handling construction of the space, according to city documents, and construction costs are pegged at $1.5 million. Synovus' new location will include 29 offices, multiple conference rooms to accommodate different-sized meetings, a collaboration area and an open area for 11 workstations.

A spokeswoman for the bank, which has an office on Roosevelt Boulevard in St. Petersburg, said more details about the Water Street office would be released in the coming days.

A representative from Strategic Property Partners, the developer of Water Street, referred comment to Synovus. SPP is controlled by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC.

An office lease of just under 11,000 square feet is average in the Tampa Bay market, where the majority of office leases are between 10,000 and 20,000 square feet.

South State Bank signed a similar deal in Midtown Tampa in 2020, taking 10,000 square feet or roughly half a floor in Midtown East. South State also purchased signage rights to the building.

Thousand & One's anchor tenant, ReliaQuest, will occupy multiple floors in the building.