Now for the 700,000-square-foot question: Will that demand, combined with a continued inflow of out-of-state companies and workers, be enough to fill all the new office space going up in Downtown West Palm Beach?
Stream Executive Managing Director Greg Katz and Senior Vice President Carlyle Coffin facilitated the transaction on behalf of the tenant. Tim Talbot and Andy Ackerman of Comreal represented the building owner, DWS.
The report also inferred that companies are wanting higher quality space in better locations to provide “additional motivation for employees to work from the office more often.”
Boca Raton’s total significant leasing activity last year was higher than any other city in Palm Beach County, according to recent data.
The 11-story Class B office building is situated on 2.3 acres, with a strong history of high occupancy with long term tenants.
Baker Donelson was previously located at 1 Federal Plaza.
Hines and local partner Urban Street Development have secured a $220 million loan for phase 1 the project, a 5.6-acre, 835,000-square-foot master-planned urban mixed-use development in Fort Lauderdale’s Flagler Village neighborhood.
Joe Freitas and John Criddle of CBRE are handling leasing at the project.
In a market where CoStar data signals a current 15.6% vacancy rate, Berger Commercial Realty brokers Brian Batchelder's and Joseph P. Byrnes' success stands out as a testament to their strategic leasing efforts and market knowledge.
Named after the year Palm Beach County was founded, The nonprofit connects hundreds of small businesses with subsidized workspaces, mentorship program, community events and more.
