One Flagler's Grand Opening Marks a New Era for West Palm Beach's Office Market

West Palm Beach's skyline has a striking new addition: One Flagler. Developed by Related Ross, this 25-story, 270,000-square-foot Class-A office tower signifies the city's transformation into a premier business hub. With its prime location at 180 Lakeview Ave., One Flagler is poised to redefine the local office market.

A New Landmark in West Palm Beach:

• Strategic Design: Designed by Skidmore, Owings & Merrill (SOM), One Flagler features a modern facade inspired by Florida's tropical modernism. It complements the adjacent historic First Church of Christ, Scientist.

• Premium Amenities: Tenants enjoy a state-of-the-art fitness center, conference facilities, bicycle storage, valet services, and concierge support. The building also boasts a 19,000-square-foot outdoor terrace on the eighth floor with waterfront views.

• Culinary Excellence: The ground floor houses Estiatorio Milos, a renowned Greek restaurant by chef Costas Spiliadis, enhancing the building's appeal.

High Demand Reflects Market Trends:

• Full Occupancy: One Flagler has reached full tenancy, attracting esteemed financial and professional services firms, including Bessemer Trust, Baron Funds, and Highpost Capital.

• Flight to Quality: One Flagler's success underscores a broader trend in West Palm Beach's office market: Demand for high-quality, Class A spaces is rising. In the West Palm Beach Central Business District, Class A office spaces command average rents of $67.70 per square foot, a 7.7% increase over the previous year.

Developer's Vision and Future Plans:

• Stephen Ross's Commitment: At 84, Stephen Ross launched Related Ross, focusing on South Florida's growth. He envisions West Palm Beach as one of the nation's premier locations, with One Flagler as a catalyst for future developments.

• Upcoming Projects: Related Ross is advancing plans for additional office spaces, including 10 and 15 CityPlace, which will add nearly 1 million square feet to their West Palm Beach portfolio.

Looking Ahead:

The opening of One Flagler marks a pivotal moment for West Palm Beach's office market, highlighting a shift towards premium, well-located office spaces. As the city continues to attract top-tier firms and investors, developments like One Flagler set a new standard for quality and innovation in the region's commercial real estate landscape. Investors and landlords should monitor these trends closely as they signal robust opportunities in West Palm Beach's evolving market.