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Dycom Industries inked a 40,000-square-foot lease to relocate its headquarters to the 300 Banyan office project being built in Downtown West Palm Beach, Commercial Observer has learned.
Dycom, which provides contracting services to telecommunications providers, will occupy the top two floors of the 12-story development, according to developers Brand Atlantic Real Estate Partners and Wheelock Street Capital. The asking rent stood at $110 per square foot.
Located at 300 Banyan Boulevard, the development will feature about 120,000 of leasable office space across six floors, in addition to three floors of parking.
Dycom Industries will relocate its headquarters from Palm Beach Gardens. Its new lease brings 300 Banyan to 50 percent pre-leased. In August, financial firm Alvarez & Marsal Capital signed a 10,000-square-foot lease.
The development is expected to be completed next month. Construction has been underway since 2022 when Brand Atlantic Real Estate Partners and Wheelock Street Capital secured a $87 million construction loan from Acore Capital.
Cushman & Wakefield’s Brian Gale and Anthony Librizzi represented the landlord, and Derek Baker of Colliers represented the tenant.
The 300 Banyan office building is part of the larger Banyan & Olive mixed-use development, which also features a historic building at 111 North Olive Avenue. Over two years ago, the joint venture completed a gut renovation of the three-story building, designed by famed architect John Volk, which now functions as a mixed-use property.
Julia Echikson can be reached at jechikson@commercialobserver.com.
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