Tag Archive for: related companies

New Office Tenants Coming To 360 Rosemary, Rosemary Square

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Related Companies that prominent investment firm Comvest Partners and leading artificial intelligence firm Levatas LLC will locate their corporate headquarters in the Rosemary Square neighborhood in Downtown West Palm Beach.

Comvest will relocated to 360 Rosemary, a sustainable Class-A office building that features state-of-the-art, loft-style office space and broke ground on May 16. Levatas LLC, a digital transformation agency and leader in artificial intelligence software, will locate its corporate headquarters to Rosemary Square, expected to open in early 2020.

 

“Our vision for Rosemary Square as a true live, work, play neighborhood is resonating with a diverse roster of businesses that recognize the growing value of dynamic locations in building corporate culture, serving clients, and attracting and retaining great talent,” said Gopal Rajegowda, Senior Vice President of Related Companies. “We are proud to offer our tenants a wide-range of office solutions, all surrounded by a vibrant array of cultural, entertainment, dining and retail offerings in the heart of Downtown West Palm Beach. The corporate relocations will also spur economic and employment benefits for the City and region.”

Comvest Partners, a private investment firm providing equity and debt capital to middle-market companies across North America with $3.2 billion of assets under management, has signed a 26,000-square-foot lease to consolidate its offices in a cohesive space at 360 Rosemary supporting the firm’s anticipated growth for the next decade.

Levatas LLC, a leader in Artificial Intelligence solutions and named as one of the “Top 150 Company Cultures in America” by Entrepreneur Magazine, is relocating its headquarters from Palm Beach Gardens to a 16,000-square-foot space in Rosemary Square injecting an anticipated $1.2M into the local economy and adding 50 new jobs to Palm Beach County. The county’s Business Development Board assisted the Levatas team in the search for office space and assisted with a $350,000 Qualified Target Industry (QTI) Tax Refund from the State of Florida, based on the company’s commitment to create new jobs paying an average of $105,490.

 

Michael Falk, Chairman and Managing Partner of Comvest, said, “We look forward to our partnership with Related as we create an office space that supports Comvest’s continued growth. The move to a dynamic and collaborative space will allow us to foster better interaction among teams and promote innovation and forward thinking.”

 

“Our type of work requires a highly skilled group of engineers, data scientists, designers and project managers, so being accessible to the broadest possible pool of talent is critical,” said Chris Nielsen, Founder and Chairman of Levatas. “The proximity of Rosemary Square to the Brightline, which connects the residents of Miami and West Palm, and soon Orlando, opens up a lot of possibility we didn’t have before, both for employees and clients. It’s also nice to be in a creative, urban hub, close to where many of our employees live and play.”

Anticipated LEED Gold, 360 Rosemary is a 300,000-square-foot building designed by Elkus Manfredi Architects and Leo A. Daly that will bring state-of-the-art, connected and innovative workspaces to South Florida. The 20-story modern building will offer loft-style office space with expansive floor-to-ceiling windows that maximize natural light and 10,000 square feet of outdoor amenity space including two terraces that allow for an exceptional indoor/outdoor workplace environment. Located adjacent to the Brightline high-speed rail station which connects West Palm Beach with Miami and Fort Lauderdale, on 10 local bus routes and just 3 miles from the Palm Beach International airport, the building offers unparalleled access to local transportation hubs. Related Companies has retained construction management company Moss as contractor for 360 Rosemary. The building is expected to be complete in early 2021.

360 Rosemary is located in Rosemary Square, which is currently undergoing a $550 million transformation led by Related to become a vibrant community and destination featuring premiere commercial office space; rejuvenated green spaces; modern residences; diverse, experiential retail and culinary offerings; robust arts and cultural programming—culminating in an exceptional new district to live, work and visit in South Florida.

Jon Blunk, President of Tower Commercial Real Estate, is the exclusive leasing agent for 360 Rosemary and represented Related in both transactions. Comvest was represented by CBRE First Vice President Kevin Probel and First Vice President Kevin McCarthy. Levatas was represented by JLL Vice President Cameron Tallon.

 

Source:  CRE-sources

Investment Management Firm Relocates, Signs 25,000 SF Lease Deal

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Global investment management firm Intech is making a big transfer.

The company is planning to move its headquarters out of Related Companies’ CityPlace Tower and into the 221,000-square-foot One Clearlake Centre office high-rise in West Palm Beach.

Intech inked a 25,000-square-foot lease and will be filling up the tower’s top two-floors, according to a press release. The deal also gives the company exterior signage. The firm, which has about $50 billion under its management, is scheduled to occupy its new space by September 2019.

The lease brings the 19-story office tower at 250 South Australian Avenue to 68 percent leased, with asking rents in the tower ranging from $40 per square foot to $45 per square foot, CREC’s leasing director Mark Goldstein said. Other tenants in the building include Richman Greer law firm, Rosenbaum Mollengarden PLLC, BB&T, Prudential and Northwestern Mutual.

Built in 1986, One Clearlake Centre includes a five-story, 662-space parking garage. CREC’s Carol Greenberg Brooks, Goldstein and Robert Dabrowski oversee leasing and management of the property.

Velocis, a private equity real estate manager, paid $42.3 million for the property in July 2017 with CREC. The joint venture invested millions into renovating the building, including revamping its lobby areas, corridors and bathrooms. The partnership also added a creative tenant lounge and offers tenants a new wellness program.

 

Source:  The Real Deal

New Building To Bring 300,000 SF Of Class A Office Space To Downtown West Palm Beach

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Related Companies has proposed a state-of-the-art Class A office building at the corner of Rosemary Avenue and Evernia Street in downtown West Palm Beach.

Created as an innovative and sustainably advanced corporate space, 360 Rosemary will complement CityPlace Office Tower, bookending the district with two distinct, premier office buildings and improving the region’s ability to attract new businesses and create jobs.

It will stand as the newest Class A office space constructed since the CityPlace Office Tower was built in 2008.

“The office building at 360 Rosemary is part of Related Companies’ vision for the future of the downtown district  – to transform the area from an entertainment destination into a thoughtful urban district, where residents and visitors are completely integrated into the fabric of the city,” said Gopal Rajegowda, Senior VP, Related Companies. “The state-of-the art office building will allow the downtown area to continue to thrive, bring more businesses, jobs and full-time residents to the epicenter of downtown West Palm Beach.”

If approved, construction of 360 Rosemary would begin later this year.  Its development will create more than 700 construction jobs, and, once complete, the building will employ at least 1,000 people.

Jon Blunk, President of Tower Commercial Real Estate, exclusive office leasing representative for 360 Rosemary, has worked with Related Companies on several successful projects – most notably – the lease out of City Place Office Tower.

“I’m thrilled to be working side-by-side with the Related Companies team again.  West Palm Beach is primed for a new high-end office tower of this design and caliber,” said Blunk.  “With its unmatched accessibility to the surrounding amenities and proximity to the Brightline Station, 360 Rosemary will be the location of choice for tenants in this market.”

Located just steps away from the new Brightline high-speed rail station, the 285,000 square foot LEED Silver-designed building will bring modern architecture and best-in-class office amenities to the West Palm Beach business community. With spaces designed to appeal to a variety of industries, including creative startups, technology firms and the financial service industry, 360 Rosemary will offer a technologically and stylistically forward-thinking approach to support companies operating in today’s modern business environment. Employees and visitors at 360 Rosemary will benefit from an on-site conference center facility, fitness center, 10-foot-plus ceilings on every floor, outdoor amenities, an industrial-style lobby and ample parking for cars and bikes.

Related Companies’ same expertise and knowledge that most recently leased more than eight million square feet of Class A commercial office space in Hudson Yards development – bringing more than a dozen of the world’s leading brands in fashion, beauty, technology, finance and law to Manhattan’s newest neighborhood – will be focused on bringing that same enhanced value to downtown West Palm Beach.