Tag Archive for: kevin priddy

Venture X Opens Newest Coworking Space In Boca Raton

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Grover Corlew announced that Venture X, a premier coworking brand, has opened its newest location in South Florida at the reimagined Palmetto Central office campus in Boca Raton.

The 30,000-square-feet Venture X coworking space now occupies the entire top floor of 1489 W. Palmetto Park Road, a building that has been completely renovated. This renovation is part of a broader $60 million investment to transform the two-building Palmetto Central complex. The redesigned top floor features bright, modern interiors with full-height hurricane-impact windows and private balconies. Additional upgrades to the property include fully renovated common areas, a striking tiered water feature at the main entrance, and generous covered parking with EV charging stations.

“Venture X is a perfect fit for the Palmetto Central office campus, and we are thrilled to welcome them to the building,” said Mark Corlew, Partner at Grover Corlew. “We’ve invested significant resources into modernizing this space to offer businesses the best in design, amenities and location. The demand for Class A office space in Boca Raton is high, and Palmetto Central offers an unparalleled opportunity for businesses that are interested in relocating to the area.”

The Boca Raton Venture X location meets the region’s growing need for flexible workspaces, offering an upscale, collaborative environment for entrepreneurs, remote professionals, startups and established businesses alike.

“We are thrilled to bring the Venture X experience to Boca Raton and to be part of the revitalization of this iconic property,” Kevin Priddy, Managing Partner, Venture X. “This new location reflects our commitment to providing top tier coworking spaces that meet the needs of today’s professionals, with a focus on community and collaboration.”

The Palmetto Central complex is ideally located within close proximity to I-95, the Brightline station and upscale shopping and dining . Venture X joins UHealth Boca Raton, a University of Miami Health System clinic, which opened a 17,000-square-foot clinic in the same building in late 2024.

Venture X was represented by Derek Baker of Colliers, while Grover Corlew was represented by Joe Freitas, John Criddle and Max Pawk of CBRE.

 

Coworking Operator Signs 29K SF Lease For Office Space In Boca Raton Amidst Leasing Surge

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As Boca Raton’s leasing surge surpasses other major office hubs, Venture X, the nation’s third largest coworking operator, has signed a long-term top floor lease at Palmetto Central in Boca Raton, encompassing 28,959 square feet.

Colliers’ Executive Vice President Derek Baker represented the tenant in negotiating the deal. CBRE’s Joe Freitas, John Criddle and Max Pawk represented the landlord, Grover Corlew, in the lease negotiations.

“I’m thrilled to have assisted Venture X in securing a premier location for their new flagship site in Boca Raton,” said Baker. “Venture X sought to leverage the flight-to-quality trend for its coworking customers, by focusing on only quality assets and ownership. Grover Corlew’s expansive redevelopment of Palmetto Central aligns perfectly with these goals, creating a best-in-class office experience in Central Boca Raton.”

Palmetto Central, located at 1489 and 1499 W Palmetto Park Road, stands out with its Class A office space in a state-of-the-art redevelopment immediately east off Interstate 95, in Boca Raton’s bustling market. The property’s prime location offers unmatched access to the East Coast, being just minutes away from Downtown Boca Raton, the Glades Corridor and the new Brightline Boca Raton Station.

The property is undergoing an ongoing and phased $30 million renovation which has included significant upgrades to the two building’s façades, lobbies, and common area corridors, all aimed at elevating the asset and tenant mix to the highest quality. The property’s standout features include floor-to-ceiling windows, custom high-quality buildouts, full-height hurricane impact windows, and premium amenities such as a tenant lounge, fitness center, conference facility, and monument building signage opportunities.

“With the high demand for modern office space in downtown Boca Raton, Palmetto Central stands out in terms of quality and location,” said Mark Corlew, Partner at Grover Corlew. “We’re excited to welcome Venture X, which will thrive thanks to the distinctive upgrades that have brought this property to its full potential.”

Grover Corlew is a real estate investment management group and developer of multifamily and office properties with a proven track record of over 100 years of combined industry experience in acquiring, transforming, and managing a diverse range of assets, including office, multifamily, and retail properties, throughout the southeastern U.S., with a focus on Florida. The firm has developed, owned, and managed over 10,000 units and more than 10 million sq. ft. of commercial space, specializing in investor and tenant relationships and projects that revitalize and stimulate local communities.

Kevin Priddy, the Venture X franchise owner, expressed excitement about Venture X’s expansion into Boca Raton, stating, “Opening a Venture X in Boca Raton is a thrilling milestone for us, it is the perfect market for our brand, with its dynamic business community and thriving entrepreneurial spirit. We are excited to provide a modern and collaborative workspace that caters to professionals, entrepreneurs, and small businesses, offering them the ideal environment to innovate, network, and grow.”

In the second quarter of 2024, the Boca Raton office market emerged as a prime destination for office tenants, leading leasing activity in Palm Beach County. Leasing across the Boca Raton East, West, and North submarkets surpassed 250,000 sq. ft., accounting for 38% of all Palm Beach County leasing during the quarter. This robust activity can be attributed to the highly educated workforce spurred by local institutions such as Florida Atlantic University, Lynn University and Palm Beach State College. Additionally, the new Boca Raton Brightline Station has improved connectivity, enabling companies to access talent from the broader South Florida region. With this advantageous convergence of factors, the outlook for the Boca Raton office market remains positive as we enter the second half of 2024.