Tag Archive for: banyan & olive

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

 

Brand Atlantic, Wheelock Street Capital Complete Redevelopment Of West Palm Office Building

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Brand Atlantic Real Estate Partners and Wheelock Street Capital have completed the redevelopment of 111 Olive, a boutique office building in downtown West Palm Beach. The building is the first phase of Banyan & Olive, a Class A mixed-use development within the city’s Clematis Waterfront District.

111 Olive features newly renovated offices with 14-foot ceilings and pine timber wood ceilings. The building offers two 9,000-square feet suites and two 5,000-square feet suites, with one of the smaller suites fully built out for immediate move-in.

Tenant amenities include a golf simulator lounge and clubroom seating; art installations throughout the main lobby, elevator lobby lounges and office corridors; shower cabana changing rooms with private lockers and towel service; dedicated parking at 300 Banyan garage with direct connection from the main lobby; concierge attendant at main lobby desk for security, guest registry, mail, package storage and tenant requests; and club-level amenities at 300 Banyan, featuring an indoor/outdoor fitness center, open-air lounge and reservable outdoor event space.

 

Source:  RE Business