Pebb Capital & Sabal Investment Acquire Mixed-use Development in West Palm Beach

Pebb Capital and Sabal Investment Holdings have jointly acquired “The Press,” a mixed-use development located in West Palm Beach, Florida. The total investment, including acquisition and property improvements, is projected to be just under $80 million. The property, situated at 2751 S. Dixie Highway, was purchased from Tricera Capital through an off-market deal. Notably, Tricera had previously secured a $50.75 million loan for the acquisition of The Press in 2021.

Planned Capital Improvements

Significant upgrades are planned for The Press, focusing on enhancing the office building’s common areas and completing the development of speculative office suites. Additional efforts will be made to improve the landscape and hardscape of the property, with the aim of increasing its visual appeal along Dixie Highway.

Property Overview

Originally a printing press and distribution facility, the 11.6-acre site has been transformed into a mixed-use development featuring 256,653 square feet of office and retail space. The property also includes a 3.7-acre parcel, currently used for parking, that has potential for further development. The Press hosts a variety of tenants, including The Palm Beach Post, Palm Beach Atlantic University, and retail outlets such as Joseph’s Classic Market, Pink Steak, Starbucks, Restore, Tremble Pilates, and Amped Fitness.