Thursday, May 25, 2006

Office Condo Project Hits 70% Mark

WEST PALM BEACH, FL-As it nears completion, the 125,630-sf West Palm Commerce Park office/warehouse condo development has reached 70% sold. The project is on Haverhill Road just south of 45th Street.

West Palm Commerce Park, being developed by Coral Gables-based Integrated Property Services, consists of three buildings with 46 units ranging in size from 2,000 sf to 3,000 sf. The project was designed by Coral Gables-based architects Wolfberg Alvarez & Partners and the general contractor is Fort Lauderdale-based Miller Construction Co.

CB Richard Ellis senior associate Kerry Jackson, who handled sales and marketing at the park, tells GlobeSt.com that a typical 2,000-sf unit contains 500 sf of build-out office space and another 500 sf of mezzanine space which may be built out as office space and 1,000 sf of warehouse space. Unlike similar developments, which only contain parking spaces to accommodate 10% build-out for office space, West Palm Commerce Park contains enough spaces to accommodate 40% build-out for office space. Another feature of the building is the inclusion of impact resistant windows, instead of hurricane shutters. “We provide the build-outs so when buyers purchase units, they can move right in. In some projects it can take up to 120 days to move in,” Jackson says.
Jackson says certificates of occupancy will be obtained by the end of the week, with closings anticipated within the next two weeks. Among companies that have purchased units are promotion and marketing firm Mediazine. “As a small business owner, networking is very important. The advantages of being in the West Palm Commerce Park is that we get an opportunity to network with other small business owners that offer products and services that compliment our business,” says Mediazine president Curtis Azama in a prepared statement.

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