An Arizona mutual fund firm is moving down the street into a bigger space.

Cole W. Smead Smead Capital management CEO, Portfolio Manager

Next week, the team at Smead Capital Management plans to relocate their Phoenix headquarters to moving its former Phoenix headquarters to 2502 E Camelback Road, Suite 210. That's less than a mile away from Smead's current HQ, which is at 2777 E Camelback Road, Suite 375.

"All current Phoenix employees will move to the new office," a spokesperson for Smead tells MFWire.

The asset manager first moved to Phoenix three and a half years ago.

"We needed space as we had outgrown our existing space," Cole Smead, CEO and PM of Smead, writes to MFWire:

We have a very bright future, so we need to make the investments that allow our company and colleagues to flourish. We have been headquartered in Phoenix since July 2020. Pheonix is a dream location for our business. It's an easy city to recruit to, travel from, bring people together and live in. It makes the other West Coast bastions of money management look dismal.

Smead Capital Management's latest HQ relocation process began about a year ago, and the new office opening is set for February 9, as planned, Smead writes. The new space is expected to be between 8,000 and 9,000 square feet, with all eleven of the firm's Phoenix employees. Yet the space can "flex up to 30 to 40 people," he adds.

"We planned this so that during corporate events where our Jersey City office employees or London office come to Phoenix, everything can be under one house if it needs to be," Smead writes. (The firm has five employees in its New Jersey office and on in London.)

The Phoenix team's job range from executive Leadership, to portfolio management, to compliance, to operations, to marketing, to client servicing and sales, Smead writes.

"Our two other locations are client services and sales locations," Smead adds.

Smead's new office will be located at Macerich's Biltmore Fashion Park, according to a LinkedIn post.

"The Post-Pandemic world requires more of offices locations, which is why so much of commercial office is doing poorly," Smead writes:

Phoenix doesn't have a central business district compared to other cities like Seattle, San Francisco or Los Angeles. We have suburban business districts. Our office will be on Macerich's Biltmore Fashion Park property with multiple restaurants and amenities in one of those districts. It's a really unique place for us to have our business and colleagues. No more Uber Eats or Door Dash for us like the past.

As for more locations, there is no need at the moment, Smead writes. Yet he's open to adding offices if need be.

"For example, if our presence among Asian investors grew, it would be logical for us to open office an in Singapore," Smead says. "Again, that would require the right circumstances." 

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