Morgan Stanley & Northern Trust Bank Sign 30,000 & 13,000 Square Foot Renewals
West Palm Beach, FL Sept 23, 2013 - Within weeks of signing their largest new lease to date at West Palm Beach’s Phillips Point, Taylor & Mathis has secured 43,000 square feet of renewals at the office property. Morgan Stanley, one of the building’s longest term tenants, signed a 30,000 square foot renewal. The 12-year, $20 million dollar deal was co-brokered by Chris Constant and Mark Pateman of Cushman & Wakefield. That deal was quickly followed by a 10-year, 13,000 square foot renewal of Northern Trust Bank. Early last year, Gunster, one of West Palm Beach’s oldest law firms, signed a long term renewal for over 50,000 square feet at the property. With over 100,000 square feet of leases signed this year, Phillips Point is now at 95% occupancy.
“Both of these tenants conducted extensive due diligence during their search for office space before signing leases at Phillips Point,” stated Taylor & Mathis’ Principal, Brian Gale. “Phillips Point, with its timeless finishes and views unlike any other office building in the market, beat out the shiny new office building being proposed – Related’s Gateway Tower.”
Within the last month Taylor & Mathis secured a 40,000 square foot new lease with Akerman Senterfitt. In July Taylor & Mathis announced the signing of two firms to 25,516 square feet of leases. Global Capital Econometrix, LLC leased the building’s entire 18th floor of 14,516 square feet and BMO Harris Bank, a tenant at the building since 1997, signed a 10,000 square foot renewal.
The location provides seamless access to Palm Beach Island, directly across from the entrance to the Royal Palm Bridge, with Ocean and Intracoastal Waterway views from all sides. The building is home to internationally recognized tenants including, Gunster, Squire Sanders, Goldman Sachs and Greenberg Taurig. Among the complex’s amenities are banking, valet parking, concierge, Morton’s Steakhouse, The Phillips Point Club (a penthouse level dining club), café and sundry shop, 24-hour manned security and on-site dining.
About Taylor & Mathis
Taylor & Mathis, the exclusive leasing agent for Phillips Point, is a diversified real estate company specializing in the development, marketing and management of office buildings, suburban office parks, industrial parks and mixed-use projects. In Florida the company leases and/or manages a portfolio over 12 million square feet. Founded in 1967, the company has developed properties exceeding $1.9 billion in value and has established itself as one of the most respected regional real estate firms in the United States. Based in Atlanta, with offices in Miami, Tampa, Orlando and Sunrise, Taylor & Mathis concentrates its business activity in primary growth markets in the southeastern United States. For more information, visit dev.taylormathis.com or www.taylormathisflorida.com
Press Contact: Brian Gale firstname.lastname@example.org (305)476-8880