A nearly one-acre site near Interstate 95 in Hollywood could be repositioned for a larger office project as BSD 23 Development LLC pursues rezoning and site plan approvals from the city.
The property at 2910 Polk Street, just north of Hollywood Boulevard, was purchased by the Aventura-based developer for $2.5 million in 2023. The site currently contains a billboard, which would be moved to the top of the planned parking garage if the project advances.
BSD 23 Development, managed by Avihu Nahari, previously submitted plans for a four-story, 61,492-square-foot office building on the site. The latest proposal is larger, calling for a six-story, 92,000-square-foot office building with a lobby cafeteria and an attached 293-space parking garage.
To move forward, the developer is requesting that the city rezone the site from the transitional core zoning district to the retail core zoning district. The application also seeks a variance to allow a five-foot front setback instead of the required 10 feet.
The Hollywood Planning and Development Board is scheduled to review the rezoning and site plan applications on June 9.
As part of the proposal, BSD 23 Development would convey a small portion of the property to the Florida Department of Transportation for use as a passive park. The project team’s application describes the building as a modern glass-forward design with an art wall façade and a ground-floor connection to green space and pedestrian walkways.
Attorney Rosemarie Bacallao and Itamar Goldenholtz of Sunrise-based Goldenholtz & Associates Architects & Planners are working with the developer on the project.
The proposal comes at a time when new office development in Broward remains limited compared with Miami-Dade and Palm Beach counties. According to Colliers’ first-quarter report, Broward had about 350,000 square feet of office space under construction, all of it in downtown Fort Lauderdale. In Hollywood, office vacancy was 9.4%, while Class A vacancy stood at 12%. Average asking rents for Class A office space in the submarket were $40.72 per square foot.
Citizens Private Bank is deepening its presence in Palm Beach County with a West Palm Beach office, adding another financial services name to a downtown market that has become increasingly attractive to private banking, wealth management and investment firms.
The bank’s West Palm Beach office is located at 190 Lakeview Ave., where Citizens says its local team provides private banking support, customized client service and access to relationship managers, private wealth managers and advisory professionals. The office operates Monday through Friday and is led locally by Regional Market Executive James B. Meany, with Augie Vulaj serving as private bank office manager.
Citizens Private Bank signed a 10-year lease for a 2,700-square-foot private banking office on the ground floor of the newly built office tower, plus 9,300 square feet of office space on the 12th floor. Move-in was earlier this month.
Cushman & Wakefield represented the bank, while Tower Commercial Real Estate represented the landlord.
The move follows Citizens Private Bank’s earlier Palm Beach expansion. In October 2025, Citizens announced the opening of its Palm Beach regional office at 400 Royal Palm Way, calling it part of a broader South Florida growth strategy driven by rising client demand. At the time, Citizens said it had added wealth teams in Palm Beach, Boca Raton and Naples over the prior year.
For West Palm Beach, the expansion is another signal that the city’s office market continues to benefit from the growth of South Florida’s financial sector. New and renovated Class A office space has helped attract firms seeking proximity to Palm Beach’s high-net-worth residents, corporate executives and family offices. One Flagler, one of the city’s most visible new office towers, has been positioned as part of the next wave of high-end downtown office development.
Citizens’ growth also reflects a broader shift in how financial institutions are serving clients in Palm Beach County. Rather than relying only on traditional branch networks, private banks are investing in relationship-driven offices designed around advisory services, wealth planning, lending, deposits and personalized client support.
Citizens Financial Group, based in Providence, Rhode Island, reported $222.7 billion in assets as of Sept. 30, 2025. The company offers retail, small business, commercial banking, lending, treasury management, wealth management, capital markets and related financial services.
For office brokers and landlords, Citizens’ expansion reinforces a key theme in the West Palm Beach market: financial services tenants continue to view the city as a strategic location for client-facing operations. As more wealth, banking and investment firms establish offices in the area, demand for well-located, high-quality office space is likely to remain closely tied to Palm Beach County’s growing role as a financial services hub.
https://sfoba.com/wp-content/uploads/2026/05/citizens-private-bank_original-photo-credit-american-banker-800x533-1.jpg533800SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-05-18 22:16:372026-08-21 12:11:00Citizens Private Bank Expands West Palm Beach Presence As Wealth Firms Continue To Target Downtown
A 189,000-square-foot office building in Sunrise is being offered to prospective tenants, adding another large block of available space to Broward County.
Chetu Inc., a global software development company headquartered in Sunrise, has retained Avison Young brokers Justin Cope, Greg Martin and Lisa Blumer to market the five-story building at 1500 Concord Terrace. The property sits within the 22-acre Sawgrass International Corporate Park, a location near Sawgrass Mills and the broader Sawgrass business district.
Chetu currently occupies one full floor totaling about 36,000 square feet. The remaining four floors have reportedly been vacant for several years, creating a rare opportunity for a tenant seeking a full-building presence or a large contiguous office footprint. The owner has indicated it would consider relocating if a user wanted to lease the entire property.
The space is being marketed at roughly $30 per square foot on a triple-net basis and is described as fully built out and immediately available. The property also includes a 7,500-square-foot data center on the first floor, which could appeal to users with technology, operations or infrastructure needs.
Chetu has said it is not leaving the market and remains in growth mode. A company spokesperson stated that the firm is expanding and hiring.
The building is owned by Bansi Properties, the real estate development company led by Chetu CEO Atal Bansal. Bansi Properties acquired the asset for $25 million in 2021, with plans at the time for Chetu to anchor the building while leasing the balance to outside tenants.
The Sunrise property followed Chetu’s earlier development of a 63,000-square-foot headquarters in Plantation, which opened in 2019. The company later said its growth required additional space. Bansi Properties also secured a long-term IRS lease at the Plantation building for the agency’s Broward County office.
The listing comes as Chetu continues to deal with legal fallout from customer disputes. In October, the company was ordered to pay more than $500,000, including punitive damages, in a fraud case involving a Washington state barbershop chain that alleged the company failed to deliver promised software while continuing to collect fees. Chetu appealed the decision in January.
https://sfoba.com/wp-content/uploads/2026/05/1500-concorde-terrace-sunrise_original-photo-credit-loopnet-800x533-1.jpg533800SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-05-10 20:35:152026-08-21 12:13:32189,000-SF Broward Office Building Back In Play
Butters Construction & Development, Inc. and PEBB Enterprises announced the successful acquisition of two office buildings located at 2000 Glades Road and 1951 Wyndham Way in Boca Raton for $26.15 million, equating to more than $438 per square foot.
The transaction marks the first partnership between the two firms.
The two multi-tenant office buildings total 59,667 square feet in one of Boca Raton’s busiest business corridors. The buildings are currently 75% occupied, presenting significant upside potential through a targeted capital improvement program and a focused, aggressive leasing strategy aimed at capturing mark-to-market opportunities.
Butters and PEBB plan to enhance the buildings through strategic upgrades and repositioning efforts designed to attract new tenants and elevate the overall tenant experience. The partnership will leverage both firms’ deep local expertise and operational capabilities to maximize the value of the asset.
Butters brings a longstanding track record to the partnership, having built more than 28 million square feet of commercial real estate valued at over $5 billion during its 36-year history. The company has developed a wide range of office, industrial and mixed-use projects throughout South Florida and beyond.
“Partnering with PEBB on this acquisition represents a natural alignment between two firms that share a long-term vision for Boca Raton,” said Malcolm Butters, President and Co-Founder of Butters Construction & Development, Inc. “This is a well-located asset with strong fundamentals and compelling upside. We see a clear opportunity to enhance the property and capture demand from tenants seeking high-quality office space in this market.”
PEBB is one of South Florida’s most active commercial real estate investment and development firms, with a long track record of acquiring, repositioning and developing assets throughout Boca Raton and the broader South Florida market. Over the past decade alone, PEBB has completed more than 5 million square feet of transactions representing more than $3 billion in value.
“This acquisition shows our continued conviction in Boca Raton as a premier office market,” said Ian Weiner, CEO of PEBB Enterprises. “With strong demographics, limited new supply and increased leasing activity, we believe this property is well-positioned for long-term growth. We are excited to partner with Butters on our first transaction together and unlock the full potential of this asset.”
“This is exactly the type of opportunity we are focused on – well-located assets where we can apply a disciplined capital program and leasing strategy to create value,” said Eric Hochman, Chief Investment Officer of PEBB Enterprises. “Boca Raton continues to show strong demand fundamentals, and we see a clear path to improving both tenancy and overall performance at the property.”
Abanca provided acquisition financing for the transaction, supporting the partnership’s business plan.
Douglas Mandel of Marcus & Millichap’s Institutional Property Advisors division, along with Zach Levine and Cody Hershey, brokered the sale on behalf of the seller, BOA 520 LLC. Christopher Staller of Nelson Mullins Riley & Scarborough LLP represented the buyers in the transaction.
Metropolitan Commercial Bank is expanding its South Florida footprint with a new West Palm Beach location planned for Related Ross’ One Flagler office tower.
The New York-based commercial bank already has a Miami presence, and the West Palm Beach office is expected to open in June 2026, according to company announcements. The move gives the bank a second South Florida location and places it in one of the region’s most closely watched office markets.
The expansion comes as West Palm Beach continues to attract financial services firms, private wealth operations and other business tenants seeking proximity to Palm Beach’s growing base of executives, investors and high-net-worth clients. One Flagler, a 270,000-square-foot Class A office tower completed by Related Ross, has become a key landing spot for that trend. Other tenants tied to the building include financial and investment firms, along with high-end restaurant space on the ground floor.
For Metropolitan Commercial Bank, the West Palm Beach opening appears to be part of a broader Florida strategy. The bank recently added Jessica Raffo as Vice President and Director of Association Banking for Florida, a role focused on expanding relationships and lending activity in the condominium and homeowner association sector. Raffo is expected to work with teams in Miami and West Palm Beach as the bank grows its platform statewide.
The timing is notable. South Florida’s banking and finance landscape has become increasingly competitive as firms follow capital, population growth and corporate relocations into the region. West Palm Beach, in particular, has gained momentum as an office market because it offers access to Palm Beach wealth while remaining part of a larger tri-county business corridor.
The new banking center also adds another name to the tenant roster at One Flagler, further validating Related Ross’ bet that downtown West Palm Beach can support top-tier office space. For local businesses, developers, associations and property managers, Metropolitan Commercial Bank’s arrival could mean more competition among lenders and more specialized banking options in the market.
In a region where capital relationships matter, the bank’s expansion signals that West Palm Beach is no longer just benefiting from spillover growth. It is becoming a banking and business destination in its own right.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-04-27 11:15:022026-04-27 11:15:02Metropolitan Commercial Bank Adds West Palm Beach To Its South Florida Expansion
Concord Wilshire Capital announced the successful closing of its acquisition of a 43-acre development site located at the intersection of SR-7 and Southern Boulevard in Royal Palm Beach formerly known as Tuttle Royale.
With the acquisition now complete, Concord Wilshire is advancing plans for the transformation of the property into a premier, institutional-quality mixed-use destination that will serve as a central hub for residential living, retail activity, and community engagement in one of Palm Beach’s most dynamic growth corridors.
The master-planned development, will include:
an approximately 82,875-square-foot office building
401 multifamily residences
approximately 426,764 square feet of essential and service-oriented retail
a 125-key lifestyle hotel
an activated park plaza with public spaces, sculpture garden and experiential amenities
Designed with a strong emphasis on placemaking and long-term value creation, the development will feature a highly curated mix of uses, including an activated park plaza with amphitheater capabilities, a canal-front linear park and sculpture garden, a pedestrian-oriented retail promenade with immersive water features, and a rooftop amenity environment anchored by resort-style programming.
“This closing represents a defining milestone for Concord Wilshire and marks the transition of this project from vision to execution,” said Nate Sirang, President of Concord Wilshire.
“We are now fully engaged in delivering a thoughtfully designed, mixed-use community that will create a true sense of place, generate meaningful economic activity, and serve as a long-term asset for Royal Palm Beach and the broader region,” said Bromley Kelly, Managing Director of Construction of Concord Wilshire.
Site activation will be underway soon, with initial mobilization activities coming soon, following receipt of all required permits. These early-stage efforts reflect the company’s commitment to maintaining forward momentum and executing the development in a disciplined and timely manner.
As Concord Wilshire advances the next phase of development, the company is actively engaging with best-in-class multifamily developers, retail operators, and strategic partners to bring the full vision of the development to life.
“The scale, location, and design of this project present a unique opportunity for premier partners to participate in a landmark development within Palm Beach County,” added Kelly. “We look forward to aligning with groups that share our commitment to quality, execution, and long-term value creation.”
The redevelopment of the property is expected to serve as a significant economic catalyst, generating construction and permanent jobs, enhancing the local tax base, and supporting the continued evolution of Royal Palm Beach as a destination for both residents and businesses.
“This project reflects the strength of public-private collaboration and the City’s long-term vision for responsible growth,” said Jennifer Vail, Director of Engineering and Planning of Concord Wilshire. “We are proud to help bring forward a development that will elevate the character of the community while delivering lasting economic and social benefits.”
Concord Wilshire will announce additional details in the coming months, including the formal rebranding of the development and announcements of key residential and retail development partners.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2026-04-21 14:07:252026-04-21 14:07:25Office Space Planned For Royal Palm Beach
Hollywood Office Proposal Grows As Developer Seeks Rezoning
/in News/by SFOBA STAFFA nearly one-acre site near Interstate 95 in Hollywood could be repositioned for a larger office project as BSD 23 Development LLC pursues rezoning and site plan approvals from the city.
The property at 2910 Polk Street, just north of Hollywood Boulevard, was purchased by the Aventura-based developer for $2.5 million in 2023. The site currently contains a billboard, which would be moved to the top of the planned parking garage if the project advances.
BSD 23 Development, managed by Avihu Nahari, previously submitted plans for a four-story, 61,492-square-foot office building on the site. The latest proposal is larger, calling for a six-story, 92,000-square-foot office building with a lobby cafeteria and an attached 293-space parking garage.
To move forward, the developer is requesting that the city rezone the site from the transitional core zoning district to the retail core zoning district. The application also seeks a variance to allow a five-foot front setback instead of the required 10 feet.
The Hollywood Planning and Development Board is scheduled to review the rezoning and site plan applications on June 9.
As part of the proposal, BSD 23 Development would convey a small portion of the property to the Florida Department of Transportation for use as a passive park. The project team’s application describes the building as a modern glass-forward design with an art wall façade and a ground-floor connection to green space and pedestrian walkways.
Attorney Rosemarie Bacallao and Itamar Goldenholtz of Sunrise-based Goldenholtz & Associates Architects & Planners are working with the developer on the project.
The proposal comes at a time when new office development in Broward remains limited compared with Miami-Dade and Palm Beach counties. According to Colliers’ first-quarter report, Broward had about 350,000 square feet of office space under construction, all of it in downtown Fort Lauderdale. In Hollywood, office vacancy was 9.4%, while Class A vacancy stood at 12%. Average asking rents for Class A office space in the submarket were $40.72 per square foot.
Citizens Private Bank Expands West Palm Beach Presence As Wealth Firms Continue To Target Downtown
/in Done Deals, News, Trends/by SFOBA STAFFCitizens Private Bank is deepening its presence in Palm Beach County with a West Palm Beach office, adding another financial services name to a downtown market that has become increasingly attractive to private banking, wealth management and investment firms.
The bank’s West Palm Beach office is located at 190 Lakeview Ave., where Citizens says its local team provides private banking support, customized client service and access to relationship managers, private wealth managers and advisory professionals. The office operates Monday through Friday and is led locally by Regional Market Executive James B. Meany, with Augie Vulaj serving as private bank office manager.
Citizens Private Bank signed a 10-year lease for a 2,700-square-foot private banking office on the ground floor of the newly built office tower, plus 9,300 square feet of office space on the 12th floor. Move-in was earlier this month.
Cushman & Wakefield represented the bank, while Tower Commercial Real Estate represented the landlord.
The move follows Citizens Private Bank’s earlier Palm Beach expansion. In October 2025, Citizens announced the opening of its Palm Beach regional office at 400 Royal Palm Way, calling it part of a broader South Florida growth strategy driven by rising client demand. At the time, Citizens said it had added wealth teams in Palm Beach, Boca Raton and Naples over the prior year.
For West Palm Beach, the expansion is another signal that the city’s office market continues to benefit from the growth of South Florida’s financial sector. New and renovated Class A office space has helped attract firms seeking proximity to Palm Beach’s high-net-worth residents, corporate executives and family offices. One Flagler, one of the city’s most visible new office towers, has been positioned as part of the next wave of high-end downtown office development.
Citizens’ growth also reflects a broader shift in how financial institutions are serving clients in Palm Beach County. Rather than relying only on traditional branch networks, private banks are investing in relationship-driven offices designed around advisory services, wealth planning, lending, deposits and personalized client support.
Citizens Financial Group, based in Providence, Rhode Island, reported $222.7 billion in assets as of Sept. 30, 2025. The company offers retail, small business, commercial banking, lending, treasury management, wealth management, capital markets and related financial services.
For office brokers and landlords, Citizens’ expansion reinforces a key theme in the West Palm Beach market: financial services tenants continue to view the city as a strategic location for client-facing operations. As more wealth, banking and investment firms establish offices in the area, demand for well-located, high-quality office space is likely to remain closely tied to Palm Beach County’s growing role as a financial services hub.
Source: SFBJ
189,000-SF Broward Office Building Back In Play
/in News/by SFOBA STAFFA 189,000-square-foot office building in Sunrise is being offered to prospective tenants, adding another large block of available space to Broward County.
Chetu Inc., a global software development company headquartered in Sunrise, has retained Avison Young brokers Justin Cope, Greg Martin and Lisa Blumer to market the five-story building at 1500 Concord Terrace. The property sits within the 22-acre Sawgrass International Corporate Park, a location near Sawgrass Mills and the broader Sawgrass business district.
Chetu currently occupies one full floor totaling about 36,000 square feet. The remaining four floors have reportedly been vacant for several years, creating a rare opportunity for a tenant seeking a full-building presence or a large contiguous office footprint. The owner has indicated it would consider relocating if a user wanted to lease the entire property.
The space is being marketed at roughly $30 per square foot on a triple-net basis and is described as fully built out and immediately available. The property also includes a 7,500-square-foot data center on the first floor, which could appeal to users with technology, operations or infrastructure needs.
Chetu has said it is not leaving the market and remains in growth mode. A company spokesperson stated that the firm is expanding and hiring.
The building is owned by Bansi Properties, the real estate development company led by Chetu CEO Atal Bansal. Bansi Properties acquired the asset for $25 million in 2021, with plans at the time for Chetu to anchor the building while leasing the balance to outside tenants.
The Sunrise property followed Chetu’s earlier development of a 63,000-square-foot headquarters in Plantation, which opened in 2019. The company later said its growth required additional space. Bansi Properties also secured a long-term IRS lease at the Plantation building for the agency’s Broward County office.
The listing comes as Chetu continues to deal with legal fallout from customer disputes. In October, the company was ordered to pay more than $500,000, including punitive damages, in a fraud case involving a Washington state barbershop chain that alleged the company failed to deliver promised software while continuing to collect fees. Chetu appealed the decision in January.
Source: Bisnow
Butters, PEBB Enterprises Acquire Boca Raton Office Buildings
/in Done Deals, News/by SFOBA STAFFButters Construction & Development, Inc. and PEBB Enterprises announced the successful acquisition of two office buildings located at 2000 Glades Road and 1951 Wyndham Way in Boca Raton for $26.15 million, equating to more than $438 per square foot.
The transaction marks the first partnership between the two firms.
The two multi-tenant office buildings total 59,667 square feet in one of Boca Raton’s busiest business corridors. The buildings are currently 75% occupied, presenting significant upside potential through a targeted capital improvement program and a focused, aggressive leasing strategy aimed at capturing mark-to-market opportunities.
Butters and PEBB plan to enhance the buildings through strategic upgrades and repositioning efforts designed to attract new tenants and elevate the overall tenant experience. The partnership will leverage both firms’ deep local expertise and operational capabilities to maximize the value of the asset.
Butters brings a longstanding track record to the partnership, having built more than 28 million square feet of commercial real estate valued at over $5 billion during its 36-year history. The company has developed a wide range of office, industrial and mixed-use projects throughout South Florida and beyond.
PEBB is one of South Florida’s most active commercial real estate investment and development firms, with a long track record of acquiring, repositioning and developing assets throughout Boca Raton and the broader South Florida market. Over the past decade alone, PEBB has completed more than 5 million square feet of transactions representing more than $3 billion in value.
Abanca provided acquisition financing for the transaction, supporting the partnership’s business plan.
Douglas Mandel of Marcus & Millichap’s Institutional Property Advisors division, along with Zach Levine and Cody Hershey, brokered the sale on behalf of the seller, BOA 520 LLC. Christopher Staller of Nelson Mullins Riley & Scarborough LLP represented the buyers in the transaction.
Metropolitan Commercial Bank Adds West Palm Beach To Its South Florida Expansion
/in Done Deals, News/by SFOBA STAFFMetropolitan Commercial Bank is expanding its South Florida footprint with a new West Palm Beach location planned for Related Ross’ One Flagler office tower.
The New York-based commercial bank already has a Miami presence, and the West Palm Beach office is expected to open in June 2026, according to company announcements. The move gives the bank a second South Florida location and places it in one of the region’s most closely watched office markets.
The expansion comes as West Palm Beach continues to attract financial services firms, private wealth operations and other business tenants seeking proximity to Palm Beach’s growing base of executives, investors and high-net-worth clients. One Flagler, a 270,000-square-foot Class A office tower completed by Related Ross, has become a key landing spot for that trend. Other tenants tied to the building include financial and investment firms, along with high-end restaurant space on the ground floor.
For Metropolitan Commercial Bank, the West Palm Beach opening appears to be part of a broader Florida strategy. The bank recently added Jessica Raffo as Vice President and Director of Association Banking for Florida, a role focused on expanding relationships and lending activity in the condominium and homeowner association sector. Raffo is expected to work with teams in Miami and West Palm Beach as the bank grows its platform statewide.
The timing is notable. South Florida’s banking and finance landscape has become increasingly competitive as firms follow capital, population growth and corporate relocations into the region. West Palm Beach, in particular, has gained momentum as an office market because it offers access to Palm Beach wealth while remaining part of a larger tri-county business corridor.
The new banking center also adds another name to the tenant roster at One Flagler, further validating Related Ross’ bet that downtown West Palm Beach can support top-tier office space. For local businesses, developers, associations and property managers, Metropolitan Commercial Bank’s arrival could mean more competition among lenders and more specialized banking options in the market.
In a region where capital relationships matter, the bank’s expansion signals that West Palm Beach is no longer just benefiting from spillover growth. It is becoming a banking and business destination in its own right.
Office Space Planned For Royal Palm Beach
/in Done Deals, News/by SFOBA STAFFConcord Wilshire Capital announced the successful closing of its acquisition of a 43-acre development site located at the intersection of SR-7 and Southern Boulevard in Royal Palm Beach formerly known as Tuttle Royale.
With the acquisition now complete, Concord Wilshire is advancing plans for the transformation of the property into a premier, institutional-quality mixed-use destination that will serve as a central hub for residential living, retail activity, and community engagement in one of Palm Beach’s most dynamic growth corridors.
The master-planned development, will include:
Designed with a strong emphasis on placemaking and long-term value creation, the development will feature a highly curated mix of uses, including an activated park plaza with amphitheater capabilities, a canal-front linear park and sculpture garden, a pedestrian-oriented retail promenade with immersive water features, and a rooftop amenity environment anchored by resort-style programming.
Site activation will be underway soon, with initial mobilization activities coming soon, following receipt of all required permits. These early-stage efforts reflect the company’s commitment to maintaining forward momentum and executing the development in a disciplined and timely manner.
As Concord Wilshire advances the next phase of development, the company is actively engaging with best-in-class multifamily developers, retail operators, and strategic partners to bring the full vision of the development to life.
The redevelopment of the property is expected to serve as a significant economic catalyst, generating construction and permanent jobs, enhancing the local tax base, and supporting the continued evolution of Royal Palm Beach as a destination for both residents and businesses.
Concord Wilshire will announce additional details in the coming months, including the formal rebranding of the development and announcements of key residential and retail development partners.