Tricera Capital Completes Significant Office Lease Transactions Totaling More Than 42,000 SF

Updated August 18, 2023

Tricera Capital, the Miami-based commercial real estate firm led by Ben Mandell, finalized a substantial office lease expansion with Wells Fargo in Boca Raton and new leases with PMP Marketing Group and Palm Beach Atlantic University at Workspaces at the Press in West Palm Beach.

Wells Fargo now occupies two floors totaling approximately 45,000 square feet at Tricera’s 1675 Midtown office building following a 19,000-square-foot lease expansion. The expanded lease comes less than one year after Wells Fargo signed its original lease at the 1675 N. Military Trail property. The banking giant now has the capacity to accommodate an additional 60 employees – for a total of approximately 140 employees based in the building. Tricera recently completed renovations to 1675 Midtown’s lobbies, common corridors, and building systems.

PMP Marketing Agency signed a 5,100-square-foot lease on the second floor of Tricera’s Workspaces at the Press, which is part of the pioneering mixed-use project The Press. PMP, which stands for “Practice Made Perfect,” partners with plaintiffs’ law firms to provide marketing and website management services.

Palm Beach Atlantic University leased 17,929 square feet at Workspaces at the Press. It plans to utilize the space for its new Physician Associate Medicine program. Tortoise Realty Group Managing Broker & Co-Founder Robert Anderson represented Palm Beach Atlantic University in the transaction.

Built in 2008, the seven-story 1675 Midtown has ~70,000 leasable square feet and ample on-site parking in the four-story podium parking garage.

The ±136,000-square-foot Workspaces at the Press is located on the former Palm Beach Post campus, along with the ±120,000-square-foot Shops at the Press. Tricera’s successful project elevated the standard for adaptive re-use and revitalized West Palm Beach’s South Dixie Corridor.

“Our long-term belief in the strength of Palm Beach County’s office market continues to pay dividends,” Tricera President | Head of Leasing Dustin Ballard said. “We are thrilled to expand our relationship with Wells Fargo, our flagship tenant at 1675 Midtown. Adding PMP Marketing Group and Palm Beach Atlantic University to Workspaces at the Press further bolsters an already vibrant tenant mix at that building.”

CBRE’s John Criddle, Joe Freitas and Chris Smith oversee leasing of 1675 Midtown and TCRE’s Jon Blunk, Cristina Glaria, Connie Thomas and Laurel Oswald oversee leasing at Workspaces at The Press, all on behalf of Tricera.

Tricera is also part of a joint venture that owns office building One Clearlake in downtown West Palm Beach.