Cushman & Wakefield has arranged three long-term leases totaling 38,207 square feet at the 1700 Palm Beach Lakes office building located half a mile from Interstate 95 in West Palm Beach.
Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord in the lease negotiations. The building is owned by Capstone Realty Group who was represented by Mitchell Adelstein, Founder/Managing Partner, in closing these important deals.
The new deals at 1700 Palm Beach Lakes Blvd. include an 18,842-square-foot 10-year lease with Valley National Bank, a 9,717-square-foot 10-year lease with Rosenbaum LLP and a 9,648-square-foot long-term lease with Morgan & Morgan.
“The out-migration of these high-quality tenants from Downtown West Palm Beach is truly transformative for the building and the corridor as well. They are a validation of Capstone’s prediction of tenants flight to high quality and transportation friendly locations versus leasing space downtown where rents have increased dramatically,” said Anthony Librizzi, Managing Director at Cushman & Wakefield. “Our team was successful in strategically leasing over 50k SF at 1700 Palm Beach Lakes in the past 18 months, which is remarkable.”
The 1700 Palm Beach Lakes office building is located west of downtown West Palm Beach and sits directly across the street from Palm Beach Outlets, Whole Foods and numerous restaurants. Amenities include a brand new, state-of-the-art conference center, café and lounge with outdoor patio and covered parking for all tenants. In addition, the building has all new Trane HVAC chiller plants and BMS system equipped with bi-polar ionization technology to deliver the highest air quality.
Due to the building’s strategic and central location, Interstate 95 is easily accessible and the building is just five minutes from Palm Beach International Airport and 10 minutes from the new Brightline high-speed rail station.
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