CBRE has been selected to lease Waterfront Clematis, a 148,856-sq.-ft. Class-A office complex located at 101 and One North Clematis Street in West Palm Beach.
CBRE’s Kevin Probel, Kevin McCarthy and Will Portfolio will be marketing the property for lease on behalf of the owner, a joint-venture between affiliates of Florida Crystals Corporation and Colonnade Properties LLC. The office building, which serves as headquarters for Florida Crystals Corporation, is currently 87.8 percent occupied.
“Waterfront Clematis is a premier Class-A office building in the live-work-play environment of downtown West Palm Beach. We know tenants will be impressed with exceptional views and its convenient location close to many amenities,” said Probel, First Vice President at CBRE.
Located in downtown West Palm Beach, the office complex is in a prime waterfront location with views of Palm Beach. It is in a highly walkable area directly on Clematis street, allowing for easy access to restaurants, retailers, and shops. The property features impact-resistant windows and is in close proximity to the beaches and Palm Beach Island.
“CBRE’s market knowledge, global platform, and national presence will be a major asset when leasing Waterfront Clematis. We look forward to working as a team to lease this one-of-a-kind property,” said Chris Glinski, Executive Vice President at Colonnade Properties.
According to CBRE Research, leasing activity was down from historic norms throughout 2020, but the second half of the year showed positive signs for the market. New-to-market tenants have ramped up their interest in relocating from high-cost states to West Palm Beach, a trend which has slowly occurred in recent years but is now happening in earnest.
Berger Commercial Realty/Corfac International Senior Sales Associate Jonathan Thiel, Sales Associate John Forman, and Senior Vice President Joseph Byrnes, on behalf of Landlord Blackhawk Properties & Investments, LLC, negotiated a 7,973-square-foot 10-year lease deal with local law firm Gutterman Trial Group at the 550 Building, one of Fort Lauderdale’s newest office/retail projects.
Gutterman Trial Group is a Florida civil litigation firm dedicated to representing insurance carriers and their policyholders. The practice encompasses an array of matters, including property, casualty, coverage, extra-contractual, subrogation, reinsurance, construction, marine and yacht, transportation and cargo claims. The firm will be relocating from its current location at 200 East Broward Boulevard.
Cushman & Wakefield’s A.J. Belt and Jeff Holding represented the tenant, which was attracted to the 550 Building due to the new construction, flexible floorplans, and proximity to the new Broward County Courthouse.
Gutterman Trial Group will be joining office tenant Berger Commercial Realty and SOLO Shoppes retail tenants Legacy Fit and Bank of OZK. Berger Commercial will be relocating to a new, state-of-the-art office on the 4th floor.
Located at 550 S. Andrews Avenue, the building stands 7 stories tall, with 6 stories consisting of approximately 86,000 square feet of professional office space with an entire floor totaling approximately 12,500 square feet. The first floor is comprised of approximately 7,500 square feet of prime restaurant/patio space, of which ±4,400 square feet is currently available for lease. The adjacent parking garage will consist of 634 spaces, along with The SOLO Shoppes, which will comprise 13,000 square feet of traditional storefront retail. The entire project will total just over 100,000 square feet of commercial space in addition to the parking garage.
The property formerly housed the 32,500-square-foot Justice Building, which was purchased by Blackhawk in December 2013. Berger represented Blackhawk in its purchase and currently provides leasing and property management for the project.
CBRE To Lease Class-A Office In West Palm Beach
/in News/by SFOBA STAFFCBRE’s Kevin Probel, Kevin McCarthy and Will Portfolio will be marketing the property for lease. CLICK ON THE HEADLINE FOR MORE
Berger Commercial Realty Welcomes Law Firm As 550 Building’s Newest Tenant
/in Done Deals, News/by SFOBA STAFFThe firm will be relocating from its current location at 200 East Broward Boulevard.