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