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Image by analogicus via Pixabay
Brand Atlantic Real Estate, along with joint venture partner Wheelock Street Capital, has topped off 300 Banyan, a Class A office building in West Palm Beach, Fla., spanning 115,000 square feet. Gilbane Building Co. serves as general contractor, and designs were provided by B+H Architects and Spina O’Rourke + Partners. Completion is expected by 2024.
The 12-story building will comprise 20,000-square-foot floorplates and private terraces of more than 3,000 square feet on every other floor. It is also set to include a 5,400-square-foot rooftop terrace—at more than 150 feet above sea level—as well as a 5,000-square-foot amenity deck with an indoor-outdoor fitness center. A 10,000-square-foot restaurant and a 4,200-square-foot garden room will take shape on the ground floor.
An ambitious West Palm Beach project
The building marks the second phase of Brand Atlantic’s mixed-use development—Banyan & Olive— following the rebranding and rehabilitation of 111 Olive, a 37,000-square-foot building constructed on the lot in 1936.
In August 2022, the partners secured $87 million in construction financing from Acore Capital, for the entire 55-acre project. Located at the intersection of Banyan Boulevard and North Olive Avenue, the site is within downtown West Palm Beach, in the Clematis Waterfront District.
In prepared remarks, Brand Atlantic Managing Partner Andrew Dance stated that West Palm Beach is one of the fastest growing markets in South Florida. In an interview with Commercial Property Executive, Dance stated that the firm is targeting a finance-focused tenant base, including hedge fund managers, investment banks and venture capital funds. He also mentioned different challenges encountered in the development process, such as rising construction costs and the economic impact of inflation.
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