Related makes big bet on South Florida office market

first_imgMessage* Tagsoffice marketRelated Companieswest palm beach Share via Shortlink Full Name* Phillips Point office towers with Related’s Stephen Ross (JLL, Getty)The Related Companies is expected to close on the Phillips Point office towers in West Palm Beach for $282 million.Matt McCormackAEW Capital Management is selling the 448,914-square-foot office complex. The deal, which will mark the largest office sale in South Florida in more than a year, is set to close in a couple of weeks. Real Estate Alert and Bloomberg reported the deal.A source confirmed details of the sale to The Real Deal.Related will pay about $630 per square foot for the buildings at 777 South Flagler Drive and 201 Lakeview Avenue. Records show AEW paid $246 million for the two towers in 2015. They sit on more than 4 acres overlooking Palm Beach island.Ike OjalaJLL brokers Hermen Rodriguez, Ike Ojala and Matt McCormack were marketing the building for sale as of last month. The brokerage declined to comment on the deal.Morgan Stanley, Gunster, and Akerman are among the tenants. Phillips Point is about 90 percent occupied.The sale comes as more financial and tech firms announce they are opening offices in South Florida. Goldman Sachs, which has a small office at Phillips Point, is considering moving its asset management division to South Florida, and reportedly has looked at spaces in Palm Beach County.Hermen RodriguezNew York-based Related Companies, led by Miami Dolphins owner Stephen Ross, has been active in West Palm Beach. In March, the company secured a $140 million loan from MSD Capital to finish building its 20-story 360 Rosemary office tower in downtown West Palm. Related redeveloped CityPlace into Rosemary Square, and plans to build another office tower across from Phillips Point called One Flagler.Contact Katherine Kallergis Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinklast_img read more

Skylar Astin Jumps on the Bus with Violet’s Sutton Foster

first_imgGround Floor star Skylar Astin took a road trip to the Great White Way on April 17—his first stop? Violet, starring two-time Tony winner Sutton Foster, Joshua Henry and Colin Donnell! The Spring Awakening, Pitch Perfect and Glee favorite took in the musical by Jeanine Tesori and Brian Crawley, then stopped backstage to greet Foster and Henry. Based on the short story “The Ugliest Pilgrim,” the Roundabout Theatre Company production tells the story of a young woman who travels by bus to meet a televangelist who she hopes can heal the scars she sustained from a childhood injury. Check out these photos of Astin’s visit, then see Foster and Henry in Violet, opening April 20 at the American Airlines Theatre! View Comments Related Shows Joshua Henry Show Closed This production ended its run on Aug. 10, 2014center_img Star Files Sutton Foster Violetlast_img read more