SouthState Bank Relocating from Midtown to Downtown Tampa

SouthState Bank secures prime signage rights for a downtown Tampa office tower, marking its forthcoming regional headquarters set to open in early 2025.

Announced on Wednesday, the Winter Haven-based bank finalized a lease agreement for 17,000 square feet on the 29th floor of Rivergate Tower, a distinguished cylindrical limestone edifice in Tampa’s skyline. This strategic move signifies SouthState’s transition from Midtown Tampa, where it was the inaugural tenant at Midtown West in 2020, occupying 10,000 square feet.

In the Tampa Bay area, securing a 17,000-square-foot office lease is significant, given that most leases typically fall under 10,000 square feet. SouthState’s expansion follows its recent announcement of acquiring Independent Bank Group for $2 billion, paving the way for its entry into the Texas market. Representation for the lease negotiation included Roxanne Kemph and Kelley Matheson from CBRE Group Inc., representing the building’s owner, Miami-based Banyan Street Capital, while Mike Griffin from Savills represented SouthState.

Zac Gruber, President of Office at Banyan Street Capital, expressed delight in expanding their partnership with SouthState Bank and having their name adorn the revered Tampa landmark. SouthState Bank also holds space with building signage at 20 North Orange, another property under Banyan Street Capital in downtown Orlando.

SouthState’s relocation diverges from the prevailing trend of companies moving from Tampa’s central business district to mixed-use developments like Midtown, Water Street Tampa, and The Heights. Notably, Tampa Electric Co. and Peoples Gas are among those relocating to Midtown Tampa upon the completion of their office condominium in Midtown East.
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