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Raymond James Plans $15M Suburban Center

SOUTHFIELD, MI-St. Petersburg, FL-based financial services giant Raymond James says it will sell its Downtown Detroit location and develop a new regional center here, eschewing a competing proposal from Texas.

By Dan Heaton | Updated on January 20, 2005

SOUTHFIELD, MI-Financial services giant Raymond James says it isselling its 40,000-sf Downtown Detroit building and developing a regional operations center here. Raymond James will sell the former Roney & Co. brokerage building in Detroit’s financial district and also leave a neighboring 20,000-sf building it leases to create the new $15-million center in Southfield.

The local center will also serve as a national data backup center for Raymond James, which has its main data center in St. Petersburg, FL. During the 2004 hurricane season, Raymond James sent about 100 people from Florida to Detroit as Hurricane Ivan loomed in the event the St. Petersburg site was knocked off line, which in the end did not happen. Raymond James had also been considering a site in Texas, the company reveals.

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