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Mount Sinai Health System inked a 5,850-square-foot lease at Related Companies’ 360 Rosemary in Downtown West Palm Beach, Fla., both the tenant and landlord announced.
The New York-based hospital network will operate a concierge care facility, offering on-demand medical services through paid memberships.
Located on the ground floor of the 297,000-square-foot office building, the space will include 10 exam rooms, a dermatology spa and treatment room for cosmetic procedures as well as hydrafacials, dermatological lasers, X-rays and ultrasounds.
The lease marks Mount Sinai’s third location in Palm Beach County, but it’s unclear when it will open. Representatives for both Mount Sinai and Related Companies did not immediately respond to requests for comment.
“Patients have choices and expect high-level medical care and access to our top-ranked specialists in New York, and this practice will meet the needs of a very savvy patient population,” Kenneth L. Davis, CEO of the Mount Sinai Health System, said in a statement.
The Mount Sinai lease is Related’s latest effort to rebrand The Square, the developer’s mixed-use, retail-heavy development, into a high-end destination since droves of wealthy Northerners flocked to Palm Beach during the pandemic.
At 360 Rosemary, which was completed in 2021, the hospital chain will join Goldman Sachs and hedge fund Elliott Management as well as the iconic Wall Street steakhouse Harry’s, which is opening its first location outside of New York.
Last month, L.A. Fitness’ parent company sued Related over its plans to open an Equinox at The Square.
Julia Echikson can be reached at jechikson@commercialobserver.com.
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