St. Petersburg, Florida-based multinational investment bank and financial services company Raymond James Financial Inc. plans to establish a new office in Spokane. 

The company is renovating a 3,000-square-foot space in an office building at 501 N. Riverpoint Boulevard, in in Spokane’s University District, says Karlee Agee, director of performance and innovation at Spokane-based Bouten Construction Co., the contractor handling the remodeling project. In addition to Raymond James, other tenants in the four-story building include PayneWest Insurance Inc., Community Colleges of Spokane, and Financial Forum Inc.

The tenant improvements are valued at about $1.2 million, Agee says.

Demolition work is expected to begin in February or March, and the project will take about five months to complete, she says. The remodel involves demolishing elements of the existing space and installing glass partition walls, a new front entry area, and a conference room. 

A representative of Raymond James couldn’t be reached immediately for comment.

The architect on the project is Vocon Partners LLC, of Cleveland. Engineering services are being provided by Tucker, Georgia-based Leppard Johnson & Associates PC.

Raymond James’ services include individual wealth management, retirement planning, and investment banking, according to the company’s website.

The company says it has about 8,700 financial advisers worldwide with a total of about $1.09 trillion in assets under management.

Raymond James trades publicly on the New York Stock Exchange under the RJF ticker symbol. Shares in the company were trading at $111.81 as of close of market on Jan. 11, down from a 52-week high of $123.98 in December, and up from a low of $85.45 in June.