Cushman & Wakefield to Lease WPB Office Tower
- Apr 16, 2018
FRI Investors has retained Cushman & Wakefield as the exclusive leasing advisor for 625 Flagler, a 108,482-square-foot waterfront office tower in downtown West Palm Beach, Fla. The team of Director Michael Feldman and Managing Principal Mark Pateman will spearhead leasing efforts at the Class A property.
Located at 625 N. Flagler Drive, the 11-story building is currently undergoing renovations that are nearing completion and include improvements to the lobby, common areas and the repositioning of the attached four-story parking garage. Completed in 1984, the property features amenities such as valet parking, on-site management and security.
The property can accommodate both traditional and medical tenants, and availabilities range from 1,600 to 47,000 square feet. Notable tenants include Jupiter Medical Urgent Care, Becker Poliakoff, Mount Sinai New York and Ultima Fitness, which occupies 10,000 square feet and is set to open in April. Current owner 625 Flagler Acquisitions LLC—a partnership between Thomas Quick, Leslie Quick and FRI Investors—acquired the asset for $23 million in October 2016, according to Yardi Matrix data.
“The ability to build out an entire floor with 270-degree water views is a rare opportunity. (The property) is a great choice for firms seeking a first-class office environment with compelling economics,” Feldman said in prepared remarks.
The office tower is situated at the base of Flagler Memorial Bridge, which provides direct access to Palm Beach Island, and is within walking distance from a variety of restaurants, retail venues and nightlife destinations. Additionally, 625 Flagler is close to the new Brightline station and is just 10 minutes from Palm Beach International Airport.
Image courtesy of Cushman & Wakefield