Tech Firm Relocating Headquarters To Miami Following $10B Acquisition
A tech company with around 2,000 employees worldwide is relocating its headquarters from San Francisco to Miami.
Anaplan, which provides cloud-based business planning and analytics software, will relocate its base to the Magic City in early 2024, the company confirmed in a statement to Bisnow. The move comes after Anaplan was acquired by Thoma Bravo for $10.4B last year.
“Miami has emerged as a thriving business center in recent years, and as we continue to expand our customer base in North America, we’re confident this location will enable our teams to provide even greater value to the businesses that rely on Anaplan for their Connected Planning needs,” an Anaplan spokesperson said in a statement.
Anaplan occupies around 55K SF for its corporate headquarters on Hawthorne Street in San Francisco, according to Bloomberg, which first reported the relocation. A spokesperson for Anaplan declined to say how much of its staff would relocate to Miami, how big its office will be or if it plans to shrink its footprint in California.
“Our Miami office will complement our existing U.S. presence in New York, Minneapolis, and the San Francisco Bay Area, and will serve as our headquarters,” the spokesperson said. “We continue to be committed to the Bay Area and serving our many customers based in this region.”
Thoma Bravo, a private equity firm with offices in Chicago and San Francisco, took Anaplan private in June 2022 and replaced the former CEO and other top executives. Charlie Gottdiener, the new CEO who started in December, is already based in Miami, per Bloomberg.
Anaplan hasn’t disclosed the location of its Miami office, but Thoma Bravo signed a 37K SF lease in April 2021 at the under-construction 830 Brickell office tower.
Orlando Bravo, the founder and managing partner of Thoma Bravo, moved to Miami Beach in late 2020, along with partner Chip Virnig and other team members. The company has a temporary office at WeWork’s Wynwood Garage space while it awaits the completion of 830 Brickell, Commercial Observer reported.
The Brickell neighborhood was at the epicenter of pandemic-era relocations to Miami, due in large part to a wave of financial companies and law firms signing leases at the 55-story 830 Brickell tower being developed by Cain International and OKO Group.
Citadel, the hedge fund run by billionaire Ken Griffin, announced it would leave Chicago for Miami in June 2022 in one of the highest-profile corporate relocations of the pandemic to date. Less than three months later, the firm leased 95K SF across six floors at 830 Brickell and announced plans to expand its footprint at 200 South Biscayne Blvd. in Downtown Miami.
The hedge fund also paid $363M for a 2.5-acre bayfront development site at 1201 Brickell Bay Drive in April 2022, where it is planning to build a supertall tower that will serve as its global headquarters.
Other financial firms have signed leases at 830 Brickell, the South Florida Business Journal reported. They include CI Financial, a Toronto-based wealth manager that leased 40K SF for its U.S. headquarters; Marsh, an insurance brokerage owned by Marsh & McLennan Cos. that signed on for 25K SF; and A-Cap, a New York-based financial firm that inked a 20K SF deal.
At least two top law firms have also signed deals at the tower. Winston & Strawn leased 35K SF, and Kirkland & Ellis inked a 115K SF lease spanning six floors before putting 27K SF of its footprint up for sublease in June.
Tech firms are underrepresented in both the tenant mix and in South Florida's recent growth. Only two tech firms signed new leases in the region in the first half of the year. But Microsoft signed a 50K SF lease at 830 Brickell in September 2021 for its Latin America regional office.
