CBRE Tapped To Lease Brand New Class A Office Building In Miramar

CBRE has been assigned leasing at Riviera Point Corporate Center, a new 64,431-square-foot office building in Miramar.

CBRE’s Chris Gallagher and Peter Messina are managing the leasing efforts at the property.

“Riviera Point Corporate Center is ideal for users who are seeking the luxury of a brand-new building with first generation office spec suites ranging in size from 1,537 sq. ft. to 13,804 sq. ft. that allow for immediate occupancy. Building top signage and monument signage are also available for marquee tenants,” said Gallagher.

Completed in 2017, Riviera Point Corporate Center consists of five stories and is complete with amenities, including a shared conference room, tenant lounge area with complimentary Wi-Fi, green car charging stations and on-site managementThere is a diverse tenant mix, including law firms, accountants, financial advisors, residential lenders and more.

The location provides access to Interstate 75 via Miramar Parkway, Miami and Fort Lauderdale airports.

 

New Office Tenants Coming To 360 Rosemary, Rosemary Square

Related Companies that prominent investment firm Comvest Partners and leading artificial intelligence firm Levatas LLC will locate their corporate headquarters in the Rosemary Square neighborhood in Downtown West Palm Beach.

Comvest will relocated to 360 Rosemary, a sustainable Class-A office building that features state-of-the-art, loft-style office space and broke ground on May 16. Levatas LLC, a digital transformation agency and leader in artificial intelligence software, will locate its corporate headquarters to Rosemary Square, expected to open in early 2020.

 

“Our vision for Rosemary Square as a true live, work, play neighborhood is resonating with a diverse roster of businesses that recognize the growing value of dynamic locations in building corporate culture, serving clients, and attracting and retaining great talent,” said Gopal Rajegowda, Senior Vice President of Related Companies. “We are proud to offer our tenants a wide-range of office solutions, all surrounded by a vibrant array of cultural, entertainment, dining and retail offerings in the heart of Downtown West Palm Beach. The corporate relocations will also spur economic and employment benefits for the City and region.”

Comvest Partners, a private investment firm providing equity and debt capital to middle-market companies across North America with $3.2 billion of assets under management, has signed a 26,000-square-foot lease to consolidate its offices in a cohesive space at 360 Rosemary supporting the firm’s anticipated growth for the next decade.

Levatas LLC, a leader in Artificial Intelligence solutions and named as one of the “Top 150 Company Cultures in America” by Entrepreneur Magazine, is relocating its headquarters from Palm Beach Gardens to a 16,000-square-foot space in Rosemary Square injecting an anticipated $1.2M into the local economy and adding 50 new jobs to Palm Beach County. The county’s Business Development Board assisted the Levatas team in the search for office space and assisted with a $350,000 Qualified Target Industry (QTI) Tax Refund from the State of Florida, based on the company’s commitment to create new jobs paying an average of $105,490.

 

Michael Falk, Chairman and Managing Partner of Comvest, said, “We look forward to our partnership with Related as we create an office space that supports Comvest’s continued growth. The move to a dynamic and collaborative space will allow us to foster better interaction among teams and promote innovation and forward thinking.”

 

“Our type of work requires a highly skilled group of engineers, data scientists, designers and project managers, so being accessible to the broadest possible pool of talent is critical,” said Chris Nielsen, Founder and Chairman of Levatas. “The proximity of Rosemary Square to the Brightline, which connects the residents of Miami and West Palm, and soon Orlando, opens up a lot of possibility we didn’t have before, both for employees and clients. It’s also nice to be in a creative, urban hub, close to where many of our employees live and play.”

Anticipated LEED Gold, 360 Rosemary is a 300,000-square-foot building designed by Elkus Manfredi Architects and Leo A. Daly that will bring state-of-the-art, connected and innovative workspaces to South Florida. The 20-story modern building will offer loft-style office space with expansive floor-to-ceiling windows that maximize natural light and 10,000 square feet of outdoor amenity space including two terraces that allow for an exceptional indoor/outdoor workplace environment. Located adjacent to the Brightline high-speed rail station which connects West Palm Beach with Miami and Fort Lauderdale, on 10 local bus routes and just 3 miles from the Palm Beach International airport, the building offers unparalleled access to local transportation hubs. Related Companies has retained construction management company Moss as contractor for 360 Rosemary. The building is expected to be complete in early 2021.

360 Rosemary is located in Rosemary Square, which is currently undergoing a $550 million transformation led by Related to become a vibrant community and destination featuring premiere commercial office space; rejuvenated green spaces; modern residences; diverse, experiential retail and culinary offerings; robust arts and cultural programming—culminating in an exceptional new district to live, work and visit in South Florida.

Jon Blunk, President of Tower Commercial Real Estate, is the exclusive leasing agent for 360 Rosemary and represented Related in both transactions. Comvest was represented by CBRE First Vice President Kevin Probel and First Vice President Kevin McCarthy. Levatas was represented by JLL Vice President Cameron Tallon.

 

Source:  CRE-sources

Fort Lauderdale Charity Leases 11,000 Square Feet Of Office Space

Fort Lauderdale Independence Training & Education (FLITE) Center has signed a lease for 11,057 square feet of office space at Prospect Park I, located at 5201 N.W. 33rd St. in Fort Lauderdale.

Brokers Keith GravesJonathan Thiel, and Joseph Byrnes, all of Berger Commercial Realty/CORFAC International, negotiated the lease on behalf of the property’s landlord, AKF# SF Light Industrial, LLC.

The FLITE Center is a centralized facility in Broward County for dependent youth to learn the skills needed for independent living. Topics covered include the importance of education, government benefits, budgeting and banking, job and vocational training, housing options and other essential skills needed to live independently. The charity is a result of the collaborative efforts of the Community Foundation of Broward, the United Way of Broward County and the Junior League of Fort Lauderdale in the early 2000s to develop a systemic approach to providing foster care youth with a support system that would help them become productive adults.

Prospect Park I is a multi-building business park located within Fort Lauderdale Commerce Center. Strategically situated between I-95 and Florida’s Turnpike at Commercial Boulevard, the 70,874-square-foot office complex offers flexible floorplans, round-the-clock access and proximity to Fort Lauderdale Executive Airport, the Cypress Creek Tri-Rail station and the Pompano Beach Tri-Rail Station.

 

Related Cos. Breaks Ground On 300,000 SF Office Building In WPB

Related Cos. has broken ground on 360 Rosemary, a planned 300,000-square-foot office building within West Palm Beach’s Rosemary Square neighborhood.

It will stand as the newest Class A office space constructed since the CityPlace Office Tower was built in 2008.

The new office building will stand 20 stories and offer 10,000 square feet of amenity space, two indoor/outdoor terraces, seven levels of parking, shared car parking, onsite bike racks, a fitness center and an onsite conference facility.

Rosemary Square is undergoing a $550 million transformation from a retail and entertainment center to a vibrant community and destination featuring commercial office space, green spaces, residences, experiential retail and culinary offerings. Rosemary Square sits on 72 acres and is located three miles from Palm Beach International Airport, and adjacent to the West Palm Beach Virgin Trains USA high-speed rail station, which connects West Palm Beach to Miami and Fort Lauderdale.

360 Rosemary is expected to be complete by early 2021.

Related also unveiled plans for 575 Rosemary, an upcoming mixed-use development, and One Flagler, a Class-A office tower that will anchor Okeechobee Business District and the Flagler Financial District.

Located at the northeast corner of Rosemary Square, 575 Rosemary is a 21-story mixed-use tower which will include 325 state-of-the-art luxury residences, with 15% of units dedicated to workforce housing. The building will also include approximately 95,000 square feet of commercial office and retail space at the base. 575 Rosemary is expected to be complete in late 2021.

One Flagler is a 25-story Class-A office building that will anchor West Palm Beach’s Okeechobee Business District and the Flagler Financial District. It will include 270,000 square feet of flexible office space, 4,100 square feet of retail space, a restaurant, and a reading room open to both the public and members of the adjacent First Church of Christ, Scientist. The church, designed by architect Julian Abele in 1928, is considered one of the most architecturally significant buildings in all of Palm Beach County and would be preserved in perpetuity by One Flagler. The project will also feature a living green wall adorning its parking garage and include 1.25 acres of green space extending the waterfront greenbelt. The building is expected to be complete in late 2023.

 

Source:  RE Business

Hong Kong-Based Company Moving US Headquarters To South Florida

Techtronic Industries — the maker of many tools and popular appliance brands — is moving its U.S. headquarters to Fort Lauderdale, which business development officials say is another corporate headquarters win for the region.

The Hong Kong-based company is behind brands such as Ryobi and Milwaukee power tools, as well as HooverOreck and Dirt Devil vacuum cleaners.

The company, which employs more than 20,000 worldwide, has leased offices at 450 E. Las Olas Blvd. and plans to create 75 jobs, according to the Greater Fort Lauderdale Alliance, the county’s economic development group. Techtronic, which was previously based outside Baltimore, is moving some top executives to Fort Lauderdale and hiring for finance, human resources, audit, legal and other professional jobs.

Techtronic’s biggest customer is Home Depot. The company also makes and sells brands including Vax, AEG, Stiletto, HomeLite and Empire.

Kristine Zenkewicz, assistant general counsel for Techtronic Industries North America, said the Fort Lauderdale office will be a corporate one overseeing U. S. operations. The global company has more than 40 locations around the world including the U.S., Canada, Asia, Europe and South America.

“We thought Fort Lauderdale would be a fabulous place to host clients, investors and team members,” she said.

Techtronic is a “powerhouse group of companies,” said Bob Swindell, president and CEO of the Greater Fort Lauderdale Alliance.

He said attracting a corporate headquarters is “incredibly important” to Broward because it brings high-paying jobs and tends to invest in the community.

Swindell said Broward County was competing with Miami and New England to attract the headquarters. One factor was hangar space for the company’s corporate aircraft, which it secured at the Fort Lauderdale Executive Airport. The company’s top executives frequently travel overseas, he said.

The company is renovating and will be moving into the 15th floor of 450 E. Las Olas Blvd., the same building where the late entrepreneur H. Wayne Huizenga once had his office.

In November, state and local government incentive awards totaling $210,000 were approved for the company, if it meets job and investment requirements. In October, the Fort Lauderdale Commission agreed to provide tax refunds of $7,000 per job for at least 30 jobs with average annual salaries of $97,374, according to a memo from City Manager Lee Feldman.

The incentives were awarded to help ensure the company relocation wouldn’t be lost to New England, where Techtronic has its current U.S. headquarters, or Miami, according to the memo.

Techtronic was founded in 1985 by Horst Julius Pudwill and Roy Chi Ping Chung with the goal of building a portfolio of globally recognized brands, according to the company’s site. It opened its first factory in 1988 in Dongguan, China.

Based in Hong Kong, Techtronic reported 2018 revenue of more than $7 billion, up from $6 billion a year earlier. The CEO is Joseph Galli Jr., who is renting while he builds a home in the Fort Lauderdale area, according to Zenkewicz.

The company is listed on the Hong Kong Stock Exchange. Techtronic’s stock also is traded in the U.S. over-the-counter market, where it has a 52-week stock price range of $22.52 to $38.72 a share.

 

Source:  SunSentinel

West Palm Beach Sunset at Waterway from Flager Museum

Office Developers Seek Approval For West Palm Beach Project

A former educational building in West Palm Beach could be converted into an office building and expanded, with a second office constructed next door.

On May 6, the City Commission heard a first reading for the site plan for 2400 Metrocentre Blvd. by TAM-CAT 45th ST LLC, managed by developers Daniel S. Catalfumo and Richard Tambone. The 4-acre property currently has a 26,959-square-foot office building constructed in 1992. It is now vacant.

In 2018, the developers filed plans to build a self-storage facility on the site. That plan has since been amended to the current proposal, in which all new construction would be office space.

The existing building, where a culinary institute previously operated, would be converted into traditional office space and expanded by 35,085 square feet. The developer would also build a two-story, 20,000-square-foot office building on the northeast corner of the site.

The project would have 246 parking spaces.

City staff recommended approval of the site plan, however, it must be approved on second reading at a later date.

 

Source:  SFBJ