Tag Archive for: anthony librizzi

Telecom Service Provider Relocates, Inks 40K-SF Lease In West Palm Beach

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Dycom Industries has signed a 40,000-square-foot lease to move its headquarters to the 300 Banyan office project in Downtown West Palm Beach.

The top two stories of the 12-story building will be occupied by Dycom, a company that contracts with telecom companies, according to developers Wheelock Street Capital and Brand Atlantic Real Estate Partners. The asking rent is $110 per square foot.

Situated at 300 Banyan Boulevard, the project will have six stories with about 120,000 square feet of leasable office space and three levels of parking.

Dycom Industries will relocate its headquarters from Palm Beach Gardens. Its new lease brings 300 Banyan to 50 percent pre-leased.

Wheelock Street Capital and Brand Atlantic Real Estate Partners obtained a $87 million construction loan from Acore Capital in 2022. The project is expected to be completed in April.

Derek Baker of Colliers represented the tenant, while Brian Gale and Anthony Librizzi of Cushman & Wakefield represented the landlord.

The 300 Banyan office building is part of the larger Banyan & Olive mixed-use development, which also features a historic building at 111 North Olive Avenue. Over two years ago, the joint venture completed a gut renovation of the three-story building, designed by famed architect John Volk, which now functions as a mixed-use property.

 

Source:  Commercial Observer

Private Equity Firm Alvarez & Marsal Inks 10K SF Lease in West Palm

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Financial firm Alvarez & Marsal Capital is setting up shop in West Palm Beach.

The Greenwich, Conn.-based private equity firm inked a 10,000-square-foot lease for the 10th floor of 300 Banyan Boulevard, a mixed-use development that’s under construction, developers Brand Atlantic and Wheelock Street Capital announced.

Located in Downtown West Palm Beach, the 12-story 300 Banyan will feature 120,000 square feet of office space across six floors and a three-story parking garage.

300 Banyan is scheduled to be completed in 2024. A year ago, Brand Atlantic and Wheelock Street Capital secured an $87 million construction loan from Acore Capital.

The office project is part of the larger Banyan & Olive mixed-use development that includes the historic three-story building at 111 North Olive Avenue, which was designed by famed architect John Volk and was completed in 1936. The joint venture acquired both sites, which totals about an acre, for $20 million in 2021.

Asking rents at the development range between $110 and $130, triple-net, according to a spokesperson for Brand Atlantic. Cushman & Wakefield’s Brian Gale and Anthony Librizzi represented the landlord, while David Dusek and Kevin Landers from the same brokerage represented the tenant.

 

Source:  Commercial Observer

 

Cushman & Wakefield Arranges Nine Office Leases Totaling 57,000 SF At Centrepark

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Cushman & Wakefield has arranged eight leases totaling  57,072 square feet at Centrepark, a five-building office park totaling 304,107 square feet located in West Palm Beach.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord, Colonnade Properties, in the lease negotiations. The leases include:

  • A new 17,876-square-foot lease with CEMEX at 1720 Centrepark Drive
  • A new 8,234-square-foot lease with Off Lease Only at 1450 Centrepark Drive
  • A new 7,169-square-foot lease with Tampa General Health at 1450 Centrepark Drive
  • A new 3,411-square-foot lease with Innovative Tax Relief at 1450 Centrepark Drive
  • A new 2,512-square-foot lease with Perlet & Shiner at 1475 Centrepark Drive
  • A 3,468-square-foot lease expansion with Pulte Group at 1475 Centrepark Drive
  • A 2,761-square-foot lease expansion with NVR at 1450 Centrepark Drive
  • An 11,582-square-foot lease renewal with Leo Daly at 1400 Centrepark Drive

“This leasing velocity and deal volume at a single project in such a short time frame is unprecedented,” Librizzi said. “Centrepark checks all the boxes for companies looking for a central West Palm Beach presence – prime location, institutional quality assets, best-in-class ownership/management and excellent value.”

The campus is located immediately west of the West Palm Beach CBD and directly north of Palm Beach International Airport. Amenities include garage and surface parking, Nature’s Way Café and a fitness center.

 

Cushman & Wakefield Arranges Acquisition Of Treasure Coast Class A Office Building

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Cushman & Wakefield has arranged the acquisition of Riverwalk Center, a 35,324-square-foot Class A office building located in Jupiter.

The final sale price was $12,250,000 million.

Anthony Librizzi of Cushman & Wakefield represented the buyer, RJM Jupiter Riverwalk LLC, in the transaction, and has been retained to oversee leasing at the property, recently completing a 10,930-square-foot lease renewal with Truist Wealth. ESJ Capital Partners sold the property.

“This transaction is another example of the ongoing trend of properties trading off-market,” Librizzi said. “I have a long history with Riverwalk Center and knew the existing tenant, who occupied the entire building, was planning to downsize their lease. This provided a prime opportunity for the buyer to occupy a portion of the building and lease out the balance.”

Located at 150 US Highway 1, the building sits within Jupiter Yacht Club, a master-planned, mixed-use development including five condominium buildings, a 23,150-square-foot retail/restaurant building and a protected marina.

 

Johnson & Johnson Company Inks 9,000 SF Office Lease In Palm Beach Gardens

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Alchemy-ABR Investment Partners, a fully integrated New York-based real estate investment firm- together with its joint venture partner, Breakers Capital Partners, a Miami based real estate investment firm-announced that DePuy Synthes Product, Inc., signed a 9,481-square-foot lease at 4400 Northcorp Parkway in Palm Beach Gardens.

DePuy Synthes Product, Inc., a Johnson & Johnson company, and a leading global provider of orthopedics products, is expanding its presence in South Florida and will occupy the build-to-suit space on the 2nd floor of the office building. DePuy Synthes Product, Inc. is slated to take occupancy in September 2021.

“4400 Northcorp Parkway is an ideal office setting for the most competitive industries and organizations and this lease is indicative of the strength of South Florida’s overall office leasing market,” said Brian Ray, Co-Founder and Managing Partner of Alchemy-ABR Investment Partners. “We’re committed to our tenants and are looking forward to welcoming DePuy Synthes Product, Inc. to 4400 Northcorp Parkway.”

4400 Northcorp Parkway is part of the larger office park, 4200-4400 Northcorp Parkway, that consists of two Class-A office buildings totaling 115,000 square feet. Completed in 1996, 4200-4400 Northcorp Parkway features extensive capital improvements including renovated, premium office fit-outs, contemporary base building lobby and common areas, as well as modern mechanical and roofing systems.

Alchemy-ABR Investment Partners and Breakers Capital purchased 4200-4400 Northcorp Parkway in 2016 and is currently renovating the lobby space of the 4200 Northcorp office building.

Alchemy-ABR Investment Partners was represented by Gavin Loughlin of Greenberg Traurig and Anthony Librizzi of Cushman & Wakefield in the transaction. DePuy Synthes Product, Inc. was represented by CBRE.

 

C&W’s Librizzi, England Arrange Three Leases Totaling 18,600 SF At Newly Renovated Office Building

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Cushman & Wakefield has arranged three leases totaling 18,581 square feet at 1700 Palm Beach Lakes on behalf of Capstone Realty Group.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord in the lease negotiations. Kubicki Draper signed a 10,978-square-foot lease, ASM Sports Group signed a 4,433-square-foot lease and Next Generation MRI signed a 3,170-square-foot lease.

“We are committed to making 1700 the premiere Palm Beach Lakes building, a strong alternative to the West Palm downtown market,” said Mitchell Adelstein, Managing Partner of Capstone. “Our Cushman leasing team did a superb job executing these leases by delivering the value differential for 1700 vs our competition.” 

The 11-story building totals 113,964 square feet. Recent renovation work includes a new lobby, café, conference center, outside seating/lounge area with new landscaping and installation of a Phenomenal Aire Series R Cold Plasma Generator which creates a plasma field within a HVAC system that naturally cleans passing air. Located just east of Interstate 95, the property is within walking distance of restaurants, hotels and shopping.

“These new leases are a direct result of ownership’s commitment to completely repositioning this asset to be the premier office building on the Palm Beach Lakes corridor which has resulted in demand unlike anything we’ve seen before,” Librizzi said.