CBRE arranged three new office leases totaling 54,350 square feet at Corporate Center at the Gardens, located at 4200 Northcorp Parkway in Palm Beach Gardens, Florida. CBRE’s Anthony Librizzi represented the landlord, Lexington Palm Beach LLC, an affiliate of Lexington Realty Trust, in the transactions.
Garden of Life, a recognized leader and innovator in whole food nutritional supplements, leased 23,350 square feet and will relocate its office from 5500 Village Boulevard in West Palm Beach to the new space at 4200 Northcorp Parkway in October 2014. This is an expansion for the company.
Be Quick Software Inc., which delivers cloud-powered wireless billing, signed a lease for 12,500 square feet with occupancy scheduled for September 2014.
Weiss Research Inc., a subsidiary of The Weiss Group Inc. that provides financial strength ratings on U.S. and global banks, credit unions, insurance companies, and sovereign debt ratings, also signed an 18,500-square-foot, long-term lease for space in a single-tenant property on an outparcel adjacent to 4400 Northcorp Parkway. The company will relocate its headquarters from 15430 Endeavour Drive in Jupiter in October 2014.
“These three leases are a testament to the success of our ongoing repositioning lease-up strategy for this well-located office project,” said Mr. Librizzi.
A $2.4 million base building capital improvement campaign was recently completed on the 95,069-square-foot property.
Built in 1996, Corporate Center at the Gardens recently completed a capital improvement campaign in excess of $2.5 million and is now one of the premiere office properties in the market. Within easy reach of I-95, PGA Boulevard, and the Florida Turnpike, the property is also near the world-class shopping, dining, and banking options of The Gardens Mall, Downtown at the Gardens, and Legacy Place. A Marriott Hotel and Hampton Inn are also within easy walking distance. With these leases, the property is 75% leased, with prime space available for rent.
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