fbpx

Investment Partnership Nets Two Office Buildings in West Palm Beach

Wexford Real Estate InvestorsĀ (WREI), Related Companies and Key International formed a partnership to acquire two Class-B office buildings in downtown West Palm Beach. The buildings, located at 400 and 450 S. Australian Avenue, are each 60,000 square feet with a half-acre auxiliary parking lot.

ā€œWe are honored to partner with two great organizations and this acquisition gives our firm another exciting project in our quickly growing backyard of Downtown West Palm Beach,ā€ Joseph Jacobs says, president of WREI.

The property is near I-95 and close to the proposed University of Florida graduate campus in downtown West Palm Beach. The Square, an open-air shopping, dining and entertainment complex developed and managed by Related Companies since 2000, is located within one mile of the buildings.

ā€œWeā€™re looking forward to expanding our footprint to West Palm Beach as the local economy experiences a boom and the demand for dynamic commercial offerings in the area increases,ā€ Michael Vassilaros says, Chief Investment Officer of Key International.

According to a recent report published by the Business Development Board of Palm Beach County, Palm Beach Countyā€™s unemployment rate in November 2021 stood at 3.5%, compared to Floridaā€™s 3.6% and the rest of the United States at 3.9%. During the five-year period ending December 2020, Palm Beach Countyā€™s population grew 5.8% as compared to the rest of the country, which grew less than 3.5% during the same period. Palm Beach County is expected to grow an additional 7.2% over the next five years. The large gap between the countyā€™s population growth and the rest of the country speaks volumes about why Palm Beach County is ripe for real estate investment opportunities.

ā€œDowntown West Palm Beach has emerged as the center of commerce in the Southeast and we remain bullish on the unprecedented growth,ā€ Gopal Rajegowda says, Partner at Related Southeast. ā€œWe look forward to the continued transformation of Downtown alongside such respected partners as WREI and Key International with our newest acquisition.ā€Ā 

You May Also Like
Broward College Hosts Pickleball Tournament

The event will raise funds for scholarships, educational programs and student resources.

Read More
Broward College Pickleball Tournament
Amerant Bank Appoints Jesse Flowers as Palm Beach Market President

The company plans to open its thirdĀ PalmĀ BeachĀ banking center and regional office set to open in 2025.

Read More
Amerant Bank Jesse Flowers
Hyundai Air & Sea Show Set to Make a Splash in Miami Beach This Memorial Day Weekend

It is one of the largest gatherings of military equipment in the country.

Read More
Model UN Team From American HeritageĀ Schoolsā€™Ā Broward CampusĀ Receives Top HonorsĀ 

17 ofĀ theĀ 35 participating students received Best Delegate Awards inĀ their respective committees, while 23 earned individual accolades.Ā 

Read More
Other Posts
Former Celebrity Cruises CEO to Lead World Cup Locally

The host committee is also enlisting the support of a historic alliance of South Florida leaders.

Read More
Humane Society of Broward Hosts Annual PAWS Gala

The Lotus Blossom Ball event will be held on April 27.

Read More
American Heritage Schools’ Palm Beach Campus Wins Top Prize at Palm Beach Regional Science Exhibition

American Heritage Schools achieved yet another remarkable victory at the Palm Beach Regional Science and Engineering Fair held at Safe Schools Institute in Boca Raton. For two years, 15 of the 30 high

Read More
Mothers Against Drunk Driving Holds Annual Walk Like MADD & MADD Dash Fort Lauderdale

The event is held in over 90 cities in the U.S.

Read More

Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. ā€œAs sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,ā€ Limsky says, ā€œSFBW reflects South Floridaā€™s increasingly sophisticated and dynamic business and cultural landscape.ā€

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, ā€œIā€™m a doctor, but I canā€™t operateā€”except on your brand.ā€ He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the worldā€™s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limskyā€™s editorship have garnered more than 75 industry awards.

He has also written for many of the countryā€™s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Menā€™s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.