Tag Archive for: Tower Commercial Real Estate

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.

Tower Commercial RE Expands Tenant Representation With New Division Associate

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Rob Foster has joined Miami-based Tower Commercial Real Estate as an associate with the firm’s expanding Tenant Representation division, bringing experience in contract negotiation, site selection, disposition and business development.

Tower’s Tenant Representation division is headed by industry veteran Scott Allen, Senior Managing Director.

“We are thrilled to have Rob join the Tower team, bringing his diverse expertise to South Florida as we are seeing increasing demand for experienced on-the-ground tenant representation professionals,” Allen said.

Before joining Tower, Foster was recognized as one of northern New Jersey’s rising Commercial Real Estate brokers. A sales associate with American Properties Realty Inc., he was active with his senior team in some of northern New Jersey’s most recent notable transactions. A graduate of Florida Atlantic University, magna cum laude, with a degree in political science and business administration, Foster is an active member of the South Florida Office Brokers Association (SFOBA) and NAIOP.

According to Jon Blunk, Tower president and founder, “Companies appreciate that Tower delivers deep, local market knowledge and the sophisticated, strategic analysis to help them make the best decision.”

He added that Tower is active in the region’s key markets, from Miami’s CBD, Fort Lauderdale and Boca Raton to West Palm Beach.

 

May Recap – Downtown Fort Lauderdale Riding Wave of New Development

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Special thanks to Laurel Oswald, Jon Blunk and Joody Andre at Tower Commercial Real Estate for a great lunch, some amazing views and a super presentation by Jenni Morejon of the Downtown Development Authority. Tower hosted our May 11 meeting at the Tower Club at One Financial Plaza.

If you missed the presentation, shame on you. The good news is that we have Jenni’s presentation here on the blog.  The bad news is that I wasn’t able to save you a piece of cheesecake.

Some of the highlights:

Over $2 Billion in post-recession investment is either planned, completed or under construction in the CBD. This includes the new 750,000 sf County Courthouse, 11,200 residential units, 1.5 million sf of office, 433,000 sf of retail and 1,200 hotel rooms. In addition, the new wave streetcar project is in the works with service to start in 2020.

While supply will be increasing with the new development, strong demand has driven residential rental rates up by 40% over the past five years and Class-A office rental rates are up by $4 over the past 12 months.

We are looking forward to more on the CBD market next month when Stiles presents details on their new downtown mixed use project.

 

Tower Commercial RE Names Scott Allen To Head Tenant Representation Division

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Tower Commercial Real Estate named Scott Allen as Managing Director to lead the growing firm’s tenant representation division.  Allen has focused exclusively on tenant representation  throughout his 23-year career, serving clients nationally and in South Florida.

The new executive is experienced in all aspects of transactions, from leasing, sales and build-to-suits to acquisition and disposition of assets. Allen has represented clients including mid-to-large cap corporations, law firms, financial service firms, healthcare, municipalities, banks and technology companies.

Before joining Tower, Allen was associated with CBRE since 1996, and represented clients including Spherion Staffing, VITAS Healthcare, City of Fort Lauderdale, Citibank and AutoNation.

“As Tower continues to expand its team and service lines, we are thrilled to have someone of Scott’s caliber and experience to lead and grow our Florida tenant representation platform,” said Jon Blunk, president and founder of Tower Commercial Real Estate.

Headquartered in Miami, with offices in Fort Lauderdale, Boca Raton and West Palm Beach, Tower Commercial Real Estate is a full service commercial real estate brokerage firm active throughout Miami-Dade, Broward and Palm Beach counties.  The firm has a current leasing portfolio of more than 3 million square feet, including many of the region’s most prominent Class A office and mixed-use properties.