Gatsby Florida, a premier developer of high-profile commercial and residential properties across South Florida, announced the details and plan for The Modern at Palm Beach Gardens, a 220,000 square-foot office tower designed to meet unprecedented demand from relocating financial, legal and Fortune 500 institutions.
The Modern, strategically located in Palm Beach Gardens, represents Gatsby Florida’s continued commitment to providing best-in-class assets in the state’s most desirable markets. The project is specifically engineered to cater to the discerning tastes of corporate tenants migrating from high-tax, high-cost environments, with a particular focus on companies exiting New York following the recent election of Mayor Mamdani.
Gatsby Florida has already completed construction plans and looks to begin construction in January 2026. The project is scheduled to turn over spaces for tenant buildouts by the first quarter of 2027, with a projected grand opening in late 2027.
“We already have about 25% of the building’s space committed to and look forward to rapid lease-up,” said Isaac Shalom, Vice President of Gatsby Florida. “As the only new Class AA office building under development in Palm Beach Gardens, we recognize the large, unfilled tenant demand in the marketplace and look forward to welcoming top National and International companies to our new tower.”
“The consistent corporate exodus from New York City and surrounding areas has been amplified by the recent election, increasing the urgency for firms seeking a more favorable and stable business climate,” said Babak “Bobby” Ebrahimzadeh, Co-Founder of Gatsby Florida. “The Modern is specifically tailored to the high-end standards these top-tier New York corporations expect. We’ve seen that New Yorkers prefer the established, exclusive environment of Palm Beach Gardens, and this building will provide a spectacular work environment—top-of-the-line in all aspects, including ease of access, proximity to housing, and quality of construction.”
The Modern will provide the next generation of premier, secure and amenity-rich office space necessary to accommodate this heavy influx of financial and corporate capital. The 8-story tower’s Class A 25,000 square-foot office floorplates are complemented by a vibrant array of culinary options. The ground floor will house a proposed 10,000-square-foot fine-dining restaurant and a 4,000-square-foot casual dining concept, with an additional 7,000 square feet of quick service and retail uses conveniently situated under the adjacent parking garage.
Palm Beach Gardens offers exceptional demographics and has already proven to be a magnet for corporate relocations, evidenced by the success of Gatsby Florida’s nearby DiVosta Towers project, which is currently 100% leased and hosts financial giants like J.P. Morgan and Stifel Investment Banking.
The Modern is designed to capture the accelerated demand from financial institutions, private equity firms, law firms, and Fortune 500 companies with a strong affinity for Palm Beach Gardens high quality of life. The area is home to world-class golf course communities, including the PGA National Golf Club & Resort, and is seeing massive residential growth with 1,000 new apartments opening in the immediate vicinity.
The Modern at Palm Beach Gardens joins Gatsby Florida’s distinguished portfolio of landmark properties throughout South Florida, which includes DiVosta Towers in Palm Beach Gardens, 800 Brickell in Miami’s Financial District, One Town Center in Boca Raton and 550 Okeechobee in West Palm Beach.
Darryl Kaplan of Darryl R. Kaplan Company is handling the leasing of the project.
Herman Law has completed a major expansion of its South Florida headquarters, relocating to a significantly larger space in Boca Raton.
The firm recently moved into an 18,000-square-foot office at 1800 N. Military Trail, nearly doubling the size of its previous 10,000-square-foot suite in the same building within Boca Center, a mixed-use development.
The lease negotiations were handled internally by the firm, while CBRE’s Joe Freitas represented the landlord, an affiliate of New York-based Macquarie Capital.
Herman Law’s Boca Raton office currently employs around 70 people, with plans to expand its local team following the move. The firm, which focuses on representing survivors of sexual abuse, operates eight offices across the U.S. with more than 200 employees. The Boca Raton location remains its sole Florida office.
“This expansion isn’t just about space—it reflects the growing need for survivors to have a voice,” said Roger Herman, the firm’s chief business officer.
Macquarie Capital purchased the three office buildings at Boca Center in 2022 for $171.5 million. The property at 1800 N. Military Trail totals roughly 299,000 square feet of office space.
The office market in South Florida is showing varied momentum across its regional hubs. In Broward County, rents are moving upward, while in Palm Beach County performance is more modest but steady.
Broward County
Office asking rents in Broward rose about 2.8 % year-over-year, reaching an average of approximately $41.96 per square foot at the end of Q2 2025.
Vacancy in the county’s office market stood at roughly 16.0 %, up slightly from the prior year.
Leasing activity has softened—with the year-to-date net absorption showing a loss of about 138,355 square feet—yet investor interest remains strong, particularly in high-quality or downtown assets.
Sub-markets like the downtown Fort Lauderdale CBD saw average asking rents climb to nearly $54.96 per square foot, underscoring the premium for better-located, newer office product.
On the development side, the pipeline is limited—there is currently one notable office project under construction – T3 Fat Village East – (±174,790 square feet) which is scheduled for delivery in 2026.
Palm Beach County
In Palm Beach, the office market is more stable. Vacancy is notably lower—hovering around 9 %—and growth is being driven by demand for newer, amenity-rich Class A buildings in well-located sub-markets.
Asking rents for Class A office space in Palm Beach are reported around $40-43 per square foot gross, reflecting moderate but consistent expansion.
Given the limited new supply, the outlook is cautiously optimistic: demand is expected to support moderate rent growth while occupancies hold steady.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-11-02 18:21:562025-11-02 18:21:56Broward Office Rents Continue To Climb As Palm Beach Market Holds Steady
Foundry Commercial is set to redevelop two office buildings in Weston into modern industrial warehouses on behalf of the property owner.
Located at 3265 Meridian Parkway and 3040-3050 Universal Blvd, the site currently has a 42,992-square-foot office built in 1990 and a 67,350-square-foot office constructed in 1998.
The 11.3-acre site, currently under contract, will transition from traditional office use to industrial operations, part of a broader trend of suburban office-to-industrial conversions.
Foundry, which has completed more than $1.4 billion in acquisitions across office, retail, and senior housing, has earned recognition as NAIOP South Florida’s Developer of the Year for its innovative redevelopment projects.
The project is expected to attract distribution and light-industrial tenants, potentially prompting local infrastructure improvements to support increased traffic and operational needs.
CP Group and DRA Advisors announced more than 266,000 square feet of leasing activity at the 1.7-million-square-foot Boca Raton Innovation Campus (BRiC).
The activity includes three new leases and two renewals from tenants spanning healthcare, tech, and education sectors.
New leases include:
Allstar Recruiting Locums LLC leased 42,697 square feet, doubling its space as it relocates from Deerfield Beach.
Cinch Home Services signed for 32,888 square feet.
EchoTwin AI leased 2,704 square feet for its first office, with the founder relocating from San Francisco.
Renewals include:
Modernizing Medicine renewed 127,821 square feet.
Everglades University renewed 52,582 square feet.
Newtek renewed 7,810 square feet.
Jeff Kelly of CBRE represented CP Group in all transactions.
CP Group is finalizing a $100 million renovation of the former IBM R&D campus, adding amenities such as a wellness center operated by Boca Raton Regional Hospital, dining options, event spaces, fitness studios, and a 1,100-space parking garage.
The firm is also expanding its flexible “worCPlaces” spec suite program. Two completed phases totaling 30,000 square feet are fully leased, and a third phase—including six suites and seven individual offices—is under construction for delivery in January 2026.
BRiC was rezoned in 2023 to allow future development of residential, retail, hospitality, and entertainment uses, opening the campus to the public year-round. The property also serves as a venue for corporate events, community gatherings, and private celebrations.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-10-19 19:25:252025-10-19 19:25:25266,000 SF In New Leases, Renewals Reported At Boca Raton Innovation Campus
On Tuesday, Sept. 30, the long-anticipated $1.5 billion Metropica development officially broke ground in Sunrise.
The master-planned project is poised to transform western Broward County and is approved for 3,000 residential units, 650,000 square feet of office space, 485,000 square feet of retail and two hotels on a 50-acre site located between Sawgrass Mills and Amerant Bank Arena.
Metropica’s first phase will include approximately 900 luxury rental apartments, a retail plaza with restaurants and entertainment that will total approximately 150,000 square feet, and one of the two hotels.
During the groundbreaking event, Metropica Development LLC CEO Joseph Kavana, President Bernie Werner and Vice President Erick Collazo were joined by Sunrise Mayor Mike Ryan, Assistant Deputy Mayor Jacqueline Guzman and Commissioner Latoya Clarke.
Metropica also introduced, for the first time, its retail development and residential development partners. Poag Development Group, a Tennessee-based developer that pioneered the lifestyle retail center concept, will lead the retail development at Metropica. Poag Development President and CEO Josh Poag spoke on the company’s behalf during the event. Boca Raton-based Waypoint Residential will lead the residential development of Metropica, with Managing Director Chris Moore speaking on behalf of the company.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-10-12 18:25:532025-10-12 18:25:53$1.5 Billion Metropica Development Breaks Ground, Plans Include 650,000 SF Of Office Space
Gatsby Florida Unveils Luxury Office Tower In Palm Beach Gardens
/in News/by SFOBA STAFFGatsby Florida, a premier developer of high-profile commercial and residential properties across South Florida, announced the details and plan for The Modern at Palm Beach Gardens, a 220,000 square-foot office tower designed to meet unprecedented demand from relocating financial, legal and Fortune 500 institutions.
The Modern, strategically located in Palm Beach Gardens, represents Gatsby Florida’s continued commitment to providing best-in-class assets in the state’s most desirable markets. The project is specifically engineered to cater to the discerning tastes of corporate tenants migrating from high-tax, high-cost environments, with a particular focus on companies exiting New York following the recent election of Mayor Mamdani.
Gatsby Florida has already completed construction plans and looks to begin construction in January 2026. The project is scheduled to turn over spaces for tenant buildouts by the first quarter of 2027, with a projected grand opening in late 2027.
The Modern will provide the next generation of premier, secure and amenity-rich office space necessary to accommodate this heavy influx of financial and corporate capital. The 8-story tower’s Class A 25,000 square-foot office floorplates are complemented by a vibrant array of culinary options. The ground floor will house a proposed 10,000-square-foot fine-dining restaurant and a 4,000-square-foot casual dining concept, with an additional 7,000 square feet of quick service and retail uses conveniently situated under the adjacent parking garage.
Palm Beach Gardens offers exceptional demographics and has already proven to be a magnet for corporate relocations, evidenced by the success of Gatsby Florida’s nearby DiVosta Towers project, which is currently 100% leased and hosts financial giants like J.P. Morgan and Stifel Investment Banking.
The Modern is designed to capture the accelerated demand from financial institutions, private equity firms, law firms, and Fortune 500 companies with a strong affinity for Palm Beach Gardens high quality of life. The area is home to world-class golf course communities, including the PGA National Golf Club & Resort, and is seeing massive residential growth with 1,000 new apartments opening in the immediate vicinity.
The Modern at Palm Beach Gardens joins Gatsby Florida’s distinguished portfolio of landmark properties throughout South Florida, which includes DiVosta Towers in Palm Beach Gardens, 800 Brickell in Miami’s Financial District, One Town Center in Boca Raton and 550 Okeechobee in West Palm Beach.
Darryl Kaplan of Darryl R. Kaplan Company is handling the leasing of the project.
Law Firm Nearly Doubles Boca Raton HQ
/in Done Deals, News/by SFOBA STAFFHerman Law has completed a major expansion of its South Florida headquarters, relocating to a significantly larger space in Boca Raton.
The firm recently moved into an 18,000-square-foot office at 1800 N. Military Trail, nearly doubling the size of its previous 10,000-square-foot suite in the same building within Boca Center, a mixed-use development.
The lease negotiations were handled internally by the firm, while CBRE’s Joe Freitas represented the landlord, an affiliate of New York-based Macquarie Capital.
Herman Law’s Boca Raton office currently employs around 70 people, with plans to expand its local team following the move. The firm, which focuses on representing survivors of sexual abuse, operates eight offices across the U.S. with more than 200 employees. The Boca Raton location remains its sole Florida office.
Macquarie Capital purchased the three office buildings at Boca Center in 2022 for $171.5 million. The property at 1800 N. Military Trail totals roughly 299,000 square feet of office space.
Broward Office Rents Continue To Climb As Palm Beach Market Holds Steady
/in News, Trends/by SFOBA STAFFThe office market in South Florida is showing varied momentum across its regional hubs. In Broward County, rents are moving upward, while in Palm Beach County performance is more modest but steady.
Broward County
Office asking rents in Broward rose about 2.8 % year-over-year, reaching an average of approximately $41.96 per square foot at the end of Q2 2025.
Vacancy in the county’s office market stood at roughly 16.0 %, up slightly from the prior year.
Leasing activity has softened—with the year-to-date net absorption showing a loss of about 138,355 square feet—yet investor interest remains strong, particularly in high-quality or downtown assets.
Sub-markets like the downtown Fort Lauderdale CBD saw average asking rents climb to nearly $54.96 per square foot, underscoring the premium for better-located, newer office product.
On the development side, the pipeline is limited—there is currently one notable office project under construction – T3 Fat Village East – (±174,790 square feet) which is scheduled for delivery in 2026.
Palm Beach County
In Palm Beach, the office market is more stable. Vacancy is notably lower—hovering around 9 %—and growth is being driven by demand for newer, amenity-rich Class A buildings in well-located sub-markets.
Asking rents for Class A office space in Palm Beach are reported around $40-43 per square foot gross, reflecting moderate but consistent expansion.
Given the limited new supply, the outlook is cautiously optimistic: demand is expected to support moderate rent growth while occupancies hold steady.
Foundry Commercial Plans Office-To-Warehouse Redevelopment In Weston
/in News/by SFOBA STAFFFoundry Commercial is set to redevelop two office buildings in Weston into modern industrial warehouses on behalf of the property owner.
Located at 3265 Meridian Parkway and 3040-3050 Universal Blvd, the site currently has a 42,992-square-foot office built in 1990 and a 67,350-square-foot office constructed in 1998.
The 11.3-acre site, currently under contract, will transition from traditional office use to industrial operations, part of a broader trend of suburban office-to-industrial conversions.
Foundry, which has completed more than $1.4 billion in acquisitions across office, retail, and senior housing, has earned recognition as NAIOP South Florida’s Developer of the Year for its innovative redevelopment projects.
The project is expected to attract distribution and light-industrial tenants, potentially prompting local infrastructure improvements to support increased traffic and operational needs.
266,000 SF In New Leases, Renewals Reported At Boca Raton Innovation Campus
/in Done Deals, News/by SFOBA STAFFCP Group and DRA Advisors announced more than 266,000 square feet of leasing activity at the 1.7-million-square-foot Boca Raton Innovation Campus (BRiC).
The activity includes three new leases and two renewals from tenants spanning healthcare, tech, and education sectors.
New leases include:
Renewals include:
Jeff Kelly of CBRE represented CP Group in all transactions.
CP Group is finalizing a $100 million renovation of the former IBM R&D campus, adding amenities such as a wellness center operated by Boca Raton Regional Hospital, dining options, event spaces, fitness studios, and a 1,100-space parking garage.
The firm is also expanding its flexible “worCPlaces” spec suite program. Two completed phases totaling 30,000 square feet are fully leased, and a third phase—including six suites and seven individual offices—is under construction for delivery in January 2026.
BRiC was rezoned in 2023 to allow future development of residential, retail, hospitality, and entertainment uses, opening the campus to the public year-round. The property also serves as a venue for corporate events, community gatherings, and private celebrations.
$1.5 Billion Metropica Development Breaks Ground, Plans Include 650,000 SF Of Office Space
/in News/by SFOBA STAFFOn Tuesday, Sept. 30, the long-anticipated $1.5 billion Metropica development officially broke ground in Sunrise.
The master-planned project is poised to transform western Broward County and is approved for 3,000 residential units, 650,000 square feet of office space, 485,000 square feet of retail and two hotels on a 50-acre site located between Sawgrass Mills and Amerant Bank Arena.
Metropica’s first phase will include approximately 900 luxury rental apartments, a retail plaza with restaurants and entertainment that will total approximately 150,000 square feet, and one of the two hotels.
During the groundbreaking event, Metropica Development LLC CEO Joseph Kavana, President Bernie Werner and Vice President Erick Collazo were joined by Sunrise Mayor Mike Ryan, Assistant Deputy Mayor Jacqueline Guzman and Commissioner Latoya Clarke.
Metropica also introduced, for the first time, its retail development and residential development partners. Poag Development Group, a Tennessee-based developer that pioneered the lifestyle retail center concept, will lead the retail development at Metropica. Poag Development President and CEO Josh Poag spoke on the company’s behalf during the event. Boca Raton-based Waypoint Residential will lead the residential development of Metropica, with Managing Director Chris Moore speaking on behalf of the company.