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Tricera Capital Signs Numerous Retail and Office Leases at The Press in West Palm Beach

Tricera Capital recently secured substantial refinancing and numerous leases at its mixed-use project in West Palm Beach, The Press. The Miami-based commercial real estate firm with a vast portfolio across the Southeast U.S. signed new retail and office leases for a combined total of more than 68,000 rentable square feet.

The refinancing adds $19 million to Tricera’s existing loan with Monroe Capital LLC of Chicago. Tricera plans to use the additional funds for tenant and site improvements and to continue building the 120,000-square-foot Shops at the Press and the 136,000-square-foot workspaces.

Recently signed leases at the Shops at The Press include Salons by JC – an upscale, premier salon suites company that leased 10,400 square feet; Calico, an Interior design, custom furnishings and fabric retailer that leased 3,200 square feet, Restore Hyper Wellness, a cryotherapy and wellness solutions provider that leased 2,700 square feet and Raw Jūce, an organic, plant-based food and cold juice restaurant that leased 1,700 square feet. Tricera is scheduled to deliver possession to its tenants by Q4 2022, including Joseph’s Classic Market, which is expected to open later this year.

“We are proud of the successful execution to date,” Ben Mandell says, Tricera Managing Partner and CEO. “The product offering will fill a void for high-quality retail and office along the South Dixie corridor. The Tricera team also would like to thank Monroe Capital for its continued belief in our ambitious project.”

Jason Krane of Ackman-Ziff Real Estate Group arranged the financing transaction.

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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. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” 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 world’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 Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’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, Men’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.