Four years after construction began, the Related Ross company’s 25-story luxury One Flagler office tower opened this month in downtown West Palm Beach. The glass-and-steel building, which is 95% leased, offers tenants views of the downtown and the water.
Change is happening to West Palm Beach’s downtown offices along with the recent migration of new companies to the city. This means office buildings must be heavy on technology, modern finishes and luxury touches, real estate officials say.
One Flagler, at 180 Lakeview Ave., is a prime example.
The 270,000-square-foot tower is at the corner of Lakeview Avenue and Flagler Drive, just behind the First Church of Christ, Scientist.
At One Flagler, some office tenants pay up to $140 per square foot for office space that affords them a modern building with perks akin to a luxury hotel.
Interiors feature mixed shades of warm woods and cream-colored walls. Amenities include a fitness center facing east and overlooking the waterfront. The building also has shared and private landscaped terraces, and an executive boardroom.
One Flagler is 95% leased to a host of financial firms, tech businesses and other companies, said Jordan Rathlev, a senior vice president with building owner Related Ross. These companies include Biohaven Pharmaceuticals, which leases the top floor space.
Although One Flagler’s offices are private, some spaces are open to the public, such as Estiatorio Milos restaurant on the ground floor. The eatery recently opened for dinner and soon will open for lunch.
There’s also the Julian Abele Park, east of the property, where an old Banyan tree remains and a new art exhibit dubbed Portals is installed. Eight stainless steel sculptures punctuate the sky in front of the One Flagler tower.
Even as Related Ross welcomes tenants into One Flagler, it’s making other downtown moves, too.
The company is transforming the former Cheesecake Factory restaurant space at the corner of Rosemary Avenue and Hibiscus Street in CityPlace into a Related Ross showroom. Cheesecake moved to a space on the southern edge of CityPlace at 651 Okeechobee Blvd.
The former Cheesecake space, now under construction, will showcase Related Ross’ projects and be open to the public.
Among the upcoming ventures are two new office buildings, 10 and 15 CityPlace.
A groundbreaking for 15 CityPlace is set for March 13. Cleveland Clinic, which plans a hospital in West Palm Beach, will lease 120,000 space in 15 CityPlace. The 500,000-square-foot tower will be built on land that formerly housed the AMC West Palm Beach 12 theater and other retailers.
According to Rathlev, Related Ross also is doing a $120 million renovation of the iconic pink-hued Phillips Point waterfront office complex on Flagler Drive. The pink exterior will be replaced with white limestone.
Rathlev said the limestone wrap is being done to upgrade the complex into a more modern finish. “We’re excited about the transformation,” Rathlev said of the Phillips Point redo.
The 10 CityPlace tower will start construction the following year.
Rathlev said Related Ross also is finalizing hotel and parking agreements with Palm Beach County for construction of a second Hilton hotel at the Palm Beach County Convention Center.
Related Ross plans a 400-room Hilton Signia, a premium meeting and convention center brand offering high-end food and drink options, and the latest in technology.
The $300 million, 20-story Signia hotel would be built at 900 S. Rosemary Avenue, now the site of a parking lot owned by Related Ross. The site is behind the CityPlace South Tower condominium and across a side street from the convention center at 650 Okeechobee Blvd.
If the final details with Palm Beach County are ironed out, construction on the hotel could start by the end of the year, Rathlev said.
Related Ross is led by Miami Dolphins owner and billionaire Palm Beach resident Stephen Ross.
SOURCE: Palm Beach Post One Flagler office opens doors in downtown West Palm Beach
