A New York City-based asset management firm has revealed plans to launch its first Sunshine State location in South Florida.
A spokesperson for Baron Capital told the Business Journal it will open a 9,144-square-foot office at Related Ross’ 25-story One Flagler tower in West Palm Beach. The representative did not immediately respond for how many people will be working out of the office and the types of roles and services that will be offered.
Baron Capital’s new West Palm Beach office falls in line with the Palm Beach County Business Development Board’s “Wall Street South” initiative to attract financial companies from the Big Apple to the region.
The firm has registered brokerage and adviser divisions, with its investment management arm overseeing more than $4 billion in assets across over 120 accounts, according to its latest adviser form filed with the U.S. Securities and Exchange Commission.
Baron Capital offers mutual funds and investment advisory services, with over 200 staff companywide and additional offices in London and the Middle East.
A Related Ross spokesperson told the Business Journal last November that One Flagler, which broke ground in 2021, received its temporary certificate of occupancy, meaning tenants and visitors can now occupy the building without hardhats.
One Flagler consists of 270,000 square feet of office, 4,100 square feet of retail, a 10,000-square-foot Estiatorio Milos by Costas Spiliadis restaurant, and more than 20,000 square feet of amenities. It’s located on a 2.5-acre site that billionaire developer Stephen Ross acquired from the First Church of Christ Scientist for $20.12 million in July 2021. Ross broke ground on the office tower a few months later.
Tenants that have signed up for space within One Flagler include an investment firm tied to billionaire financier John Paulson.
Other financial firms that have signed up for office space in One Flagler include GTCR, Bessemer Trust, Baron Funds and the finvestment office for the owners of the Tampa Bay Buccaneers.
One Flagler is part of Ross’ downtown West Palm Beach office empire that consists of the recently completed 360 Rosemary, CityPlace Tower, Phillips Point, and 50% of Esperanté Corporate Center
SOURCE: Baron Capital opens West Palm Beach office at One Flagler – South Florida Business Journal
