CBRE announced the addition of two new tenants to Esperanté Corporate Center in West Palm Beach. Merlin Law Group, a Tampa-based law group focused on property insurance law, will expand from an executive suite space at a neighboring property to take 3,500 square feet, nearly tripling their footprint in the market. GenNx360 Management Company is new to the market, taking 1,334 square feet at Esperanté Corporate Center. The firm is the management arm of New York-based private equity firm GenNx360 Capital Partners.
Together the lease transactions represent a total positive absorption of approximately 4,000 square feet in the West Palm Beach office submarket. Total net absorption for the submarket in first quarter 2012 was 4,390 square feet. Since 2008, leasing activity in this submarket has been focused on renewals and reductions of space.
“As the market continues to improve in Palm Beach, quality premier assets will likely attract the majority of the activity. The firms we are welcoming to Esperanté desire a distinguished presence, stabile and secure ownership, and high-end amenities,” says Anthony Librizzi, CBRE Vice President.
Esperanté Corporate Center is a 256,000-square-foot Class A office tower located at 222 Lakeview Avenue.
Librizzi and CBRE Senior Vice President Jeff Kelly lead landlord representation and leasing services as part of the CBRE leasing and management team at Esperanté Corporate Center.
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