The Palm Beaches are rapidly emerging as a premier destination for both business and leisure. Recent developments highlight how seamlessly the two worlds come together in this sunny paradise. As businesses continue to thrive, the region has firmly earned the title of “Wall Street South.” This movement includes the expansion of major financial institutions, including Citadel, Blackrock, Elliott Management, Goldman Sachs, Virtu Financial, Point72 and more.
One Flagler, a new Class A office tower in downtown West Palm Beach, has attracted many tenants in recent months:
- Bessemer Trust: A 117-year-old investment firm managing $200 billion in assets, relocating from Palm Beach by 2025.
- Baron Funds: A New York-based asset management firm with $43 billion in assets, opening its first South Florida office.
- Paulson Capital: Founded by billionaire hedge fund manager John Paulson, establishing its first South Florida location.
- Lancer Capital LLC: The financial office for the Glazer family (owners of the Tampa Bay Buccaneers) opens in West Palm Beach.
- Highpost Capital: A private equity firm, relocating from the Related Cos’ Esperanté Corporate Center.
- The Johnson Family Foundation: A nonprofit sharing space with 108 Management Inc. and the Betty Wold Johnson Foundation.
Further south, the Boca Raton Innovation Campus (BRIC), the birthplace of the IBM PC, continues to grow and diversify its tenant mix. Recently signed leases at BRIC include:
- ABC Preschool (9,965 square feet)
- Brandon Hall Group, LLC (2,707 square feet)
- Coastal Waste & Recycling (31,530 square feet)
- Legacy Healing Center Margate, LLC (23,630 square feet)
- Lifelong Learning Administration Corporation (3,316 square feet)
- Takahami Billing, LLC (10,058 square feet)
- Twinlabs Consolidation (1,433 square feet)
- US Claims (13,519 square feet)
- Verizon (12,965 square feet)
A standout addition to the West Palm Beach area is Banyan & Olive, a new boutique office space developed by Brand Atlantic, offering 115,000 square feet of office space. Notable new tenants here include Dycom Industries, Alvarez & Marsal Capital and the popular Greek restaurant Kyma.
As more businesses flock to the Palm Beaches, it’s clear that the quality of life, top-tier schools and business-friendly environment are key factors driving their decision. The Business Development Board of Palm Beach County is dedicated to supporting these firms, offering assistance at no cost. For more information, visit bdb.org.
