Cityplace Office Tower Adds Another Major Law Firm to Tenant Roster
West Palm Beach, Fla. (April 20, 2010) – Adding to the unmatched commercial real estate leasing success, CityPlace Office Tower announced that another significant company has joined its blue-chip tenant roster. McLaughlin & Stern, LLP, a New York-based law firm, has leased 4,300 sq. ft. of space on the 15th floor of the 18-story, 300,000-sq.-ft. commercial building on Okeechobee Blvd. in downtown West Palm Beach. The firm’s West Palm Beach office will relocate from Trump Plaza to its new quarters in September 2010. Now more than 85 percent leased, the $110 million office tower is a joint venture between The Related Companies, L.P. of New York and Crocker Partners LLC of Boca Raton.
Established in 1898, McLaughlin & Stern, LLP is one of the oldest law firms in New York. Through its offices in New York City, Millbrook, NY and West Palm Beach, the firm provides a diverse range of legal services with expertise in investment advisory and hedge fund matters; private equity matters; sophisticated commercial, securities and estate litigations;corporate transactions; real estate; intellectual property; and trusts and estates.
“We have established a critical mass in south Florida in the areas of trusts and estates, real estate and litigation, and many of our New York clients have important Florida connections. We intend to increase our Florida presence and capitalize on our strategic alliances. We are confident that our new location will facilitate this, in addition to providing our clients and visitors with convenient access to the CityPlace amenities,” stated the firm’s managing partner, Geoffry R. Handler.
Located on the northwest corner of Okeechobee and South Quadrille boulevards, CityPlaceOffice Toweranchors the south entrance to the county’s leading visitor destination – CityPlace. Direct, covered access to the mixed-use complex puts tenants within steps of the popular shops and restaurants. The location is viewed as one of the best commercial sites in Palm Beach County, anchoring the “gateway” to Palm Beach, less than 10 minutes from Palm Beach International Airport, a quarter of a mile from I-95 and directly across the street from the Palm Beach County Convention Center. With $4 million in back-up generators — more power than any other office building in the state— tenants are assured that normal business operations will continue with minimal interruption if a major storm should occur. The tower features hurricane-resistant construction and advanced technology, including high-impact windows throughout and multiple telecommunications providers for uninterrupted power, which protects access to electronic data in all offices.
Designed by Elkus/Manfredi Architects of Boston, the same firm that designed CityPlace, the tower’s iconic architecture has added a striking new dimension to the Downtown skyline and created a new landmark that has re-shaped the City’s status within Florida’s business community. The spectacular exterior concepts were carried inside and realized through luxurious, contemporary finishes and appointments, and expansive views of the Atlantic Ocean, city lights and Intracoastal Waterway. Four floors of parking and gated, direct-to-suite access from the garage for senior executives via private elevator make the building the most user-friendly and efficient in the region. The ground floor offers a mix of retail options including a Regions Bank with drive-through teller, Cleveland Clinic’s Florida Health and Wellness Center and valet and concierge services, all monitored with the most advanced building security systems in all of South Florida, many of the same used in New York’s Time Warner Center, also developed by Related Companies.
The building is anchored by the fast-growing institutional money management firm, INTECH, formerly based in Palm Beach Gardens. The firm has leased the top two floors, totaling more than 50,000 square feet. Other major tenants besides McLaughlin & Stern, LLP include Cleveland Clinic Florida; the West Palm Beach office of CarltonFields, P.A., one of the largest law firms in the southeast; intellectual property law firm Novak Druce + Quigg; the global law firm of Edwards Angell Palmer & Dodge;Regions Financial Corporation, a full-service provider of consumer and commercial banking; Shutts & Bowen LLP, a full-service, Florida- based law firm; The Comvest Group, a private investment firm; RBC Wealth Management, a leading investment specialist; Raymond James & Associates, a national leader in financial planning for individuals, corporations and municipalities; Goodrich, LLC, a Massachusetts-based management company; Neuberger Berman, a New York-based money management firm;Carey O’Donnell Public Relations Group, a full-service corporate communications company in West Palm Beachand on Madison Avenue; Callisto Partners LLC, an independent investment banking boutique; and Barry & Company, CPA.
About Related Companies
Related Companies, heralded as one of the most prolific and visionary developers, is considered the most prominent privately-owned real estate development firm in the United States. Headquartered in New York City, Related has offices or major developments in Chicago, Miami, Los Angeles, Phoenix, Boston and Aspen/Snowmass and boasts a team of more than 2,000 professionals with expertise in financing and acquisitions, marketing and sales, construction and property management. In 2004, Related completed the development of New York City’s newest landmark, Time Warner Center, featuring an unparalleled restaurant collection by renowned chefs Thomas Keller, Michael Lomonaco, Masayoshi Takayama and Marc Murphy, signature shops, super-luxury condominiums, office headquarters for both Related and the world headquarters for Time Warner, Inc., the Mandarin Oriental New York and, overlooking Central Park, the first ever concert hall designed specifically for jazz – Jazz at Lincoln Center. Time Warner Center has transformed Columbus Circle. Showcasing Related’s over $6 billion commitment to sustainable development, Related developed Tribeca Green, which is LEED certified Gold and was one of the first green residential buildings in the nation. Related recently completed 340 on the Park, the first green residential tower in the Midwest. The Grand in downtown Los Angeles is one of the largest vertically-integrated, mixed-use projects under construction in the nation. The multi-phase 3.6 million square foot development spanning three city blocks will cost an estimated $3 billion to develop. Phase I has been designed by world-renowned architect Frank Gehry for the project developer, Related Companies. In Snowmass Colorado, Related is setting a new paradigm in environmental sensitivity in resort living through its 80-acre mixed-use development. Committed to architectural and design excellence, Related works with award winning architects such as Bernardo Fort-Brescia, David M. Childs, Charles Gwathmey and Robert Siegel, Frank Gehry, Richard Meier, David Rockwell, Philippe Starck, Robert A.M. Stern and Howard Elkus to create market defining properties. www.related.com
About Crocker Partners
Crocker Partners LLC is headquartered in Boca Raton, Florida and focus on acquiring and developing Class A office properties in the southeastern United States and Texas. The company’s principals have developed more than 1.9 million square feet, including 1.6 million square feet of Class A office space; acquired 17 million square feet; and managed portfolios as large as 16 million square feet concurrently in major markets such as Atlanta, Dallas, Houston, South Florida and suburban Washington, D.C.CEO Thomas J. Crocker has been a commercial real estate leader in the Southeast and South Florida markets, where he and many of the company’s senior managers have directed major projects including Boca Raton’s Mizner Park.