West Palm Beach / Jul 11, 2022
25-story building set to bring a new class of luxury to office sector in 2024.
Related Companies today announced six top-ranking firms to expand their footprint into West Palm Beach’s forthcoming Class-A office One Flagler. Situated at the gateway to Palm Beach Island and connecting West Palm Beach's past and future, the building continues to attract a selection of the nation’s most influential financial and professional services firms.
Built on Related’s legacy of elegance, style and service, the building is expected to open at the beginning of 2024 with the most prestigious WiredScore Platinum rating, the world’s only internationally recognized digital connectivity rating platform.
Today, the building is nearly 60 percent pre-leased including:
GTCR, a leading private equity firm founded in 1980, will expand its existing presence in the market by opening a new West Palm Beach office. Their new office is expected to open in mid-2024. GTCR is headquartered in Chicago and has an office in New York. Colliers, Ryan Barr, Alain LeCoque and Bob Schneiderman, represented GTCR.
Diameter Capital Partners, a global credit-focused asset manager headquartered in New York, will move its West Palm Beach office to the building. The move is expected to be completed in mid-2024.
Four additional confidential firms spread across the financial services and pharmaceutical industries.
These companies join First Republic Bank and private equity firm Siris Capital and represent 50,000+ square feet of new leases.
“The expansion of our presence in West Palm Beach into this new space reflects our growth as a firm and our continued confidence in the region as a business and investing center,” said Collin Roche, co-CEO and managing director of GTCR. “The West Palm Beach market offers a unique and differentiated option for talent and diversity and building our footprint further in the city will allow us to compete for the best people. The space at Related’s One Flagler will create a dynamic environment for further collaboration within our teams and with members of the growing investment community in the area.”
“We are pleased to welcome a high caliber list of significant tenants from leading U.S. markets who believe in the power of West Palm Beach and have witnessed the evolution of the destination as a booming financial district,” said Gopal Rajegowda, partner, Related Southeast.
Designed by world-renowned architect David Childs, One Flagler is a 25-story Class-A office building that will anchor West Palm Beach’s Okeechobee Business District and the Flagler Financial District. It will include 270,000 square feet of flexible office space, 4,100 square feet of retail space, over 10,000 of indoor and outdoor upscale dining led by Estiatorio Milos by Costas Spiliadis and a reading room open to both the public and members of the adjacent First Church of Christ, Scientist. The church, designed by architect Julian Abele in 1928, is considered one of the most architecturally significant buildings in all of Palm Beach County and would be preserved in perpetuity by One Flagler. The project will also feature a living green wall adorning its parking garage and include 1.25 acres of green space extending the waterfront greenbelt.
Related Companies is the visionary firm behind some of the world’s most impactful mixed-use urban neighborhood developments and, in the past few years alone, has created more than eight million square feet of office space for dozens of diverse business leaders across all industries, including WarnerMedia, SAP, Sidewalk Labs, Wells Fargo, KKR, Google, Facebook, Converse and Tapestry. In West Palm Beach, Related has demonstrated a deep understanding of workplace needs with its widely acclaimed CityPlace Tower and a legacy in neighborhood placemaking with the conception of the original CityPlace, now called The Square.
Jon Blunk, president of TCRE, is the exclusive leasing agent for One Flagler and represented Related in the transactions.
About Related Southeast:
Headquartered in the heart of rapidly expanding Downtown West Palm, Related Southeast is Related Companies’ locally based, global real estate and lifestyle company that has redeveloped Downtown West Palm into one of the nation’s fastest growing commercial, retail, culinary, art and tourism destinations. Related Southeast leads the market in Class A office with 360 Rosemary, CityPlace Tower, Esperanté, Philips Point and the forthcoming 1 Flagler, as well as the celebrated destinations of Rosemary Square, Hilton West Palm Beach, RH West Palm and the historic Harriett Himmel Theater. The dynamic neighborhood built for all to enjoy has recently undergone a $700 million transformation designed to foster culture and enrich the community with lush green spaces; a diverse mix of experiential retail and culinary offerings; the largest concentration of public art installed by a private company in Palm Beach County, featuring renowned artists such as Yinka Shonibare, CBE and Jeppe Hein; rich cultural and educational programming and modern luxury residences. For more information about Related Southeast, please visit
www.relatedsoutheast.com.
Credit for the data above is given to the following websites:
www.relatedsoutheast.com/press-releases/2022-07-11/relate...
issuu.com/pbmg/docs/pbi_0223/106
www.skyscrapercenter.com/building/one-flagler/32010#:~:te...
en.wikipedia.org/wiki/David_Childs
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